NCR Posts 4Q Profit Amid Rising Demand in Americas

FOXBusiness

NCR Corp. (NYSE:NCR) swung to a fourth-quarter profit over a loss last year, helped primarily by stronger demand for modernized ATMs in America.

The Duluth, Ga.-based company posted net income of $39 million, or 24 cents a share, compared with a loss of $56 million, or 35 cents a share, in the same quarter last year.

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Excluding special items, the company earned 55 cents a share, just ahead of average analyst estimates polled by Thomson Reuters of 51 cents.

Revenue for the maker of ATMs and other cash dispensers was $1.4 billion, up from $1.35 billion a year ago, matching the Street’s view.

The company attributed the results to strong orders in the fourth quarter, noting it continued to execute well on sustainable productivity improvements.

Sales were boosted in the Americas, up 12% on higher product sales to customers in the financial services and retail and hospitality industries. Its Europe, Middle East and African region climbed 2%, partially offset by a 5% decline in its Asia-Pacific, Japanese unit.

Looking ahead, the company said it will install ATMs at hundreds of Chase locations in 2011, including machines with its Scalable Deposit Module technology that allows customers to deposit both cash and checks through a single slot.

NCR expects revenues to grow in the range of 5% to 7% in 2011. It sees earnings in the range of $1.65 to $1.75 a share, excluding pension expenses.

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