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Acknowledging that the global economic downturn has taken its toll on nearly every region the company serves, NCR Corp. today reported a 44.2% drop in net income for the second-quarter ended June 30, to $24 million from $43 million during the same period last year. The Duluth, Ga.-based ATM manufacturer reported a 15.8% drop in revenue, to $1.12 billion from $1.33 billion. "Year-over-year revenue was impacted by the overall downturn in the global economy and its impact on capital spending, particularly in the financial-services and retail-hospitality industries," Bill Nuti, NCR chairman and CEO, said in prepared statement. NCR, the world's largest ATM manufacturer based on worldwide shipments, reported that revenues declined 12.6% in the Americas region, to $505 million from $578 million, primarily because of fewer product sales to customers in the United States, the Caribbean, and Latin America. In Europe, Middle East and Africa, revenue declined 25.1%, to $384 million from $513 million, also because of reductions in product sales. In the Southern Asia/Pacific/Japan region, revenues dropped by 2.6% to $241 million from $235 million, primarily because of the effects of a minus-4% impact of foreign currency conversion. Nuti told analysts during a conference call that NCR is continuing to take steps to reduce costs. "Our performance continues to be reflective of continued uncertain and challenging macroeconomy," he said. "We also remain on track with our goal of reducing costs by $200 million to $250 million by the end of 2011."
