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Retail automation, data warehousing lead NCR’s strong first quarter
NCR Corp.’s revenue grew 10% in the first quarter, while data warehousing revenue grew 21% and retail solutions, 18%.
In reporting in its first quarter results today, NCR Corp. noted that one of the its stellar areas was retail solutions. While companywide revenue grew 10% to $1.38 billion from last year’s first quarter, retail store automation revenue grew 18%. Although it doesn’t break out profitability by product line, NCR said, “Retail Store Automation delivered strong earnings improvement, driven by productivity gains and excellent revenue growth led by new products.”
The company reported net income of $117 million, including the effects of a favorable tax adjustment, the implementation of SFAS 133, integration charges related to the October 2000 acquisition of 4Front Technologies Inc., and the previously announced bad debt write-down related to an ATM customer. Excluding these items, operating earnings were $22 million compared to a $4 million operating loss in the year-ago quarter.
The company also highlighted its data warehousing operation, which experienced revenue growth of 21% and growth rate in new customers of 20%. Revenue in NCR’s Financial Self Service operation grew 8%.