Profit fell for Wincor Nixdorf AG in its most recent fiscal year despite net sales that remained at roughly the same level as 2009.
According to a release outlining the company's preliminary results on Tuesday, the German cash machine maker's net income fell 9%, to about $145 million, for the 12-month period that ended Sept. 30. Total sales fell 0.5%, to $3.07 billion.
The ATM maker's market share in the U.S. is likely to decline in the new year, said Gil Luria, an analyst with Wedbush Securities in Los Angeles, in a research note published Tuesday.
Wincor Nixdorf is attempting to fight that contraction by pushing new automated teller machines in the U.S. that can recycle bills. The newest machines are different from those favored in the U.S. today, which dispense and receive cash through separate mechanisms and require couriers to replenish and empty each part of the machines. Wincor Nixdorf argues that its self-replenishing machines can save banks money by eliminating maintenance costs.
