NCR Corporation (NASDAQ:NCR) reported net income above Wall Street’s expectations for the second quarter. NCR Corporation is a global technology company provides solutions for industries including financial services, retail and hospitality, travel and gaming, healthcare and public sector, entertainment and software and technology services.
NCR Earnings Cheat Sheet for the Second Quarter
Results: Net income for the information technology services company rose to $35 million (21 cents per share) vs. $31 million (19 cents per share) in the same quarter a year earlier. This marks a rise of 12.9% from the year earlier quarter.
Revenue: Rose 11.5% to $1.31 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: NCR reported adjusted net income of 46 cents per share. By that measure, the company beat the mean estimate of 42 cents per share. It beat the average revenue estimate of $1.25 billion.
Quoting Management: “Our second quarter performance was driven by the NCR team’s ongoing ability to execute on our strategy and our growth initiatives and provides us the confidence to increase our full year guidance,” said Bill Nuti, chairman and chief executive officer of NCR. “We continue to capitalize on growing business opportunities in our core industries where our leadership resulted in strong order activity and revenue growth, reflecting increased demand in our core solutions both domestically and internationally. Our recently-announced plan to acquire Radiant Systems will extend that core by moving us into a leadership position in a third vertical that is exceptionally complementary to our financial and retail businesses and that offers compelling growth potential. At the same time, we’re extending our lead in emerging industries like Telecom and Technology and Travel. And we’re extremely well-positioned in our Entertainment business while also exploring partnerships or other alternatives for our DVD kiosk operations.”
Revenue has risen the past four quarters. Revenue increased 6.4% to $1.09 billion in the first quarter. The figure rose 4.5% in the fourth quarter of the last fiscal year from the year earlier and climbed 6.3% in the third quarter of the last fiscal year from the year-ago quarter.
The company topped expectations last quarter after falling short of forecasts in the first quarter with net income of 5 cents versus a mean estimate of net income of 23 cents per share.
Competitors to Watch: Diebold Incorporated (NYSE:DBD), VeriFone Systems, Inc. (NYSE:PAY), Hypercom Corporation (NYSE:HYC), PAR Technology Corporation (NYSE:PAR), Radiant Systems, Inc. (NASDAQ:RADS), Coinstar, Inc. (NASDAQ:CSTR), Hewlett-Packard Company (NYSE:HPQ), Crane Co. (NYSE:CR), USA Technologies, Inc. (NASDAQ:USAT), and Intl. Business Machines Corp. (NYSE:IBM).
(Source: Xignite Financials)