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April 11, 2005

NCR expects to beat Q1 profit forecast hands down

NCR expects to see stronger than expected profitability when it reports its first quarter earnings at the end of this month.

By CBR Staff Writer

The Dayton, Ohio-based firm, which is still smarting from the loss of its chief executive Mark Hurd to Hewlett-Packard at the end of March, said that strong performance of its retail, banking and customers services operations has boosted the company’s financial outlook for the quarter.

The company, which makes automated teller machines, bar code scanners, point of sale systems and analytic software, now expects earnings of 16 cents per share for the quarter. It had previously forecast between 2 to 5 cents.

Revenue for the quarter is being pegged at $1.34bn (up 4% over last year); though half of this increase is due to the impact of foreign currency translations against a weak dollar.

NCR shares rose as much as 5% on the New York Stock Exchange yesterday following an announcement that runs contrary to the string of profit warnings issued by software companies last week. NCR reports its first quarter results on April 28.

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