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NCR posts 4Q loss, sells some DVD kiosks to Redbox

Mon, 02/06/2012 - 2:05pm
The Associated Press

NCR Corp. reported a fourth-quarter loss on Monday as the maker of ATMs, self-service checkout machines and airport ticketing kiosks saw its bottom line weighed by acquisition costs.

Its adjusted results, however, beat analyst expectations and its shares jumped in after-hours trading.

The company, based in Duluth, posted a loss of $9 million, or 6 cents per share, for the quarter that ended Dec. 31. In the same quarter of 2010, NCR posted a profit of $39 million, or 24 cents per share.

After adjusting for acquisition costs, impairment charges and several other special items, the company said it earned 65 cents per share from continuing operations versus earnings of 56 cents per share last year.

Analysts polled by FactSet expected the company to earn an adjusted 57 cents per share in the latest quarter.

NCR's total revenue increased 17 percent to $1.64 billion from $1.4 billion with gains in all of its segments except a small dip in retail. Analysts forecast revenue of $1.59 billion for the period.

The company said it ended the year with record revenues and its largest backlog of orders in company history.

NCR said that it earned $53 million, or 33 cents per share, for the full year. That's down from $134 million, or 83 cents per share, last year. Revenue for the year rose to $5.44 billion from $4.81 billion.

It also announced Monday that it is selling some DVD kiosk business to Redbox for up to $100 million, in a deal that is expected to close in the third quarter.

NCR said it expects to earn $1.47 to $1.54 per share for the full year 2012, or $2.36 to $2.43 per share on an adjusted basis. It anticipates annual revenue, excluding the impact of foreign currency, will increase 7 to 9 percent, which calculates to roughly $5.82 billion to $5.93 billion.

Analysts forecast adjusted earnings of $2.20 per share on revenue of $5.96 billion.

Shares of the company jumped $1.47, or 8 percent gain, to $20.50 in after-hours trading following the earnings report. They had ended the regular trading session up 5 cents at $19.03.

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