Taxman Boost NCR

Register now

DAYTON, Ohio - (07/30/04) – ATM maker NCR Corp. said salescontinue to stall but a positive ruling by the IRS helped boost itfrom the red to the black for the fiscal second quarter. Thecompany said an $85 million tax benefit from past tax years helpedit report net income of $122 million, or $1.27 a share, for thequarter, compared to a loss of $13 million or 14 cents a share, forthe same period last year. Sales growth continued to be flat, withrevenues up less than 1% to $1.45 billion for the quarter, andalmost flat, at $2.7 billion, for the first half of the year. Forthe first six months, NCR reported net income of $117 million, or$1.22 a share, compared to a loss of $40 million, or 42 cents, forthe first half last year.

For reprint and licensing requests for this article, click here.