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NCR shares jump after 4Q results, guidance

Thu, 02/04/2010 - 12:01pm
The Associated Press

Shares of NCR Corp. climbed Thursday after the maker of ATMs, checkout scanners and self-serve kiosks posted fourth-quarter results above analysts' expectations.

NCR posted a net loss of $56 million, or 35 cents per share, down from a profit of $56 million, or 35 cents per share, in the same period a year earlier.

Revenue fell 5 percent to $1.35 billion from $1.42 billion.

Excluding charges, NCR earned 37 cents per share in the latest quarter.

Analysts, on average, were expecting a profit of 26 cents per share on sales of $1.28 billion, according to a poll by Thomson Reuters.

For 2010, the company expects earnings of 41 cents to 51 cents per share and it forecast revenue growth of 2 percent to 5 percent.

Analysts are expecting a profit of 64 cents per share on sales of $4.78 billion, which would be an increase of less than 4 percent from 2009 sales of $4.61 billion.

Excluding a pension expense, NCR forecast full-year earnings of $1.35 to $1.45 per share.

Wedbush Morgan analyst Gil B. Luria called the company's results and guidance "slightly better than expected." The analyst kept a "Neutral" rating on the stock and raised his target price to $13 from $12.

Shares rose 46 cents, or 3.7 percent, to close at $12.82, adding 8 cents after hours.

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