NCR revenue at $1.37 billion
By Our Convergence Bureau | 25 Jul 2003
Dayton,
Ohio: NCR Corporation (www.ncr.com)
has reported finalised results for the quarter ended 30
June 2003, including revenues of $1.37 billion, a decrease
of 1 per cent from the second quarter of 2002 and in line
with guidance. The 1-per cent revenue decline includes
a year-over-year benefit of 6-percentage points from foreign
currency fluctuations.
The operating income for the second quarter was $16 million versus $51 million in the second quarter of 2002. Included in the reported results was a $43 million year-over-year decline in the operating income resulting from the pension expense of $24 million in the second quarter of 2003, versus $19 million of the pension income in the second quarter of 2002.
NCR reported a net income of $9 million, or $0.09 per diluted share, versus a net income of $26 million, or $0.25 per diluted share in the second quarter of 2002.
"Every NCR business segment met or exceeded expectations in the second quarter," says Mark Hurd, president and chief executive officer of NCR. "We are determined to achieve our objective of delivering superior customer value propositions and are making good progress towards reducing operating expenses $250 million by the end of 2005, of which $50 million to $60 million will be realised in 2003. Reaching these goals will significantly enhance NCR''s competitiveness while positioning the company to build value as business conditions improve."
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