NCR Corporation reported financial results today for the three months ended December 31, 2011. Reported revenue of $1.64 billion increased 17% from the fourth quarter of 2010, on both an actual and a constant currency basis.
NCR’s Financial Services segment generated fourth-quarter revenue of $908 million, an increase of 16% from the fourth quarter of 2010. The increase was driven primarily by growth in the North America, Brazil/India/China/Middle East Africa and the Caribbean Latin America theaters. The fourth-quarter year-over-year revenue comparison was negatively impacted by 1% of foreign currency translation.
Operating income for Financial Services was $108 million in the fourth quarter of 2011 as compared to $79 million in the fourth quarter of 2010. This increase was driven by higher revenue and an improved gross margin rate driven which was by favorable customer mix and higher software revenue.
"2011 was a highly successful year for NCR as our consistent execution drove record revenues and gross margin and excellent free cash flow growth," said Bill Nuti, chairman and CEO of NCR. "We generated strong order growth in our core financial and retail businesses and these businesses closed the year with the highest combined backlog in our history. We also established an attractive third core vertical – Hospitality and Specialty Retail -- that furthers our strategy of improving our revenue mix in favor of software and services. Looking ahead, we are operating with an intense focus on mining the significant opportunities in our core businesses, as well as our growing presence in emerging verticals, such as Telecom & Technology and Travel, that leverage both our ability to innovate and our strong services footprint.”
NCR Corporation is a global technology company leading how the world connects, interacts and transacts with business. NCR’s assisted- and self-service solutions and comprehensive support services address the needs of retail, financial, travel, hospitality, entertainment, gaming and public sector organizations in more than 100 countries. NCR (www.ncr.com) is headquartered in Duluth, Georgia.
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