NCR recorded a 40% rise in earnings for the quarter ended December 31 2003, fuelled by increased sales of its cash machines and Teradata data warehousing systems.
NCR reported fourth-quarter 2003 net income of $80 million, or $0.84 per diluted share, versus net income of $57 million, or $0.57 per diluted share in the fourth quarter of 2002.
Revenue from sales of NCR's Teradata data warehousing systems rose six percent in Q4 2003, to $361 million, while sales of cash machines were up to $392 million, 13% higer than the year ago period.
Furthermore, NCR's payment and imaging operating segment generated $51 million in revenue during the fourth quarter, up 24% from the prior-year period.
Overall, the company's revenue rose to $1.64 billion, up four per cent from $1.58 billion a year earlier. The weak US dollar contributed six percentage points to revenue growth during the quarter.
Mark Hurd, president and chief executive officer of NCR, says: "During 2003 we reduced our cost and expense structure by more than $100 million, putting us solidly on track to achieve our annual cost savings target of $250 million by the end of 2005."
NCR expects further growth in its Teradata data warehousing and financial self service businesses in 2004.