DAYTON, Ohio – ATM manufacturer NCR Corp. reported a 17% decline in first quarter profits yesterday, based on continuing restructuring costs. The company, preparing to spin-off its Teradata data warehousing unit, said first quarter net income was $34 million, or 19 cents a share, which includes $46 million of costs for a manufacturing realignment and another $2 million for the spin-off of Teradata. First quarter revenues rose by 5% to $1.35 billion, with 2% of the benefit related to currency fluctuations. NCR said it has requested a favorable ruling from the Internal Revenue Service on the tax-free spin-off to shareholders of Teradata and expects to file public a prospectus on the spin-off some time in the second quarter.
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