Tax Settlement Boosts NCR

Register now

DAYTON, Ohio - (10/31/05) -- ATM maker NCR Corp. said last weekthat net income for its third quarter soared by four times becauseof a major tax settlement with the IRS. The $137 million settlementallowed the company to report a third quarter net of $222 million,or $1.18 a share, up from $44 million 23 cents a share, for thesame period last year. Excluding the tax settlement, NCR reported$85 million in net income. Third quarter revenues were up 3% t $1.5billion. Third quarter highlights include a 17% rise in revenuesfrom the company's Teradata data warehousing unit; a 4% increase incustomer service revenue; and a 3% boost in financial self services(ATMs). Retail store automation revenues dropped 4% for thequarter. For the first three quarters NCR reported a 3% rise inrevenues to $4.3 billion, and a doubling in net income to $379million, or $1.99 a share, due to the tax settlement.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER