Article
NCR announces first quarter results
Duluth, Ga. based company reports $19 million loss, highlights kiosk deployments.
April 22, 2010 by Matt Cunningham — Editor, NetWorld Alliance
NCR Corp. reported financial results today for the first quarter of 2010, which ended March 31. Revenue for the quarter totaled $1.03 billion, up 2 percent from Q1 2009. But the company's net loss , which came in at a loss of $19 million, negative 12 cents per share, increased from the same period last year, when the net loss was only $15 million, negative 9 cents per share.
This quarter's loss included $56 million of pension expense and $5 million of incremental costs related to the relocation of the company's global headquarters to Duluth , Ga., NCR says.
Losses from operations totaled $18 million, comapired with the $10 million net loss from operations reported in Q1 2009.
On the other side of the balance sheet, NCR generated $14 million of cash from operating activities during the quarter, while net capital expenditures increased to $51 million from $25 million a year ago, primarily due to the company's investments in the entertainment business.
NCR's earnings announcement also noted several newsmaking initiatives the company pursued during the quarter, including an advancement in its entertainment kiosk strategy. During Q1 NCR added Sheetz convenience stores to its growing roster of homes for its Blockbuster Express DVD-rental kiosks. The release also mentioned a new partnership with InMotion Entertainment that is expected to bring MOD digital-download kiosks to 35 airports.
NCR expects full-year 2010 revenue to increase between 2 percent and 5 percent.
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