US ATM manufacturer NCR is reporting a 41% rise in first quarter profit, driven by increased sales to banks and retailers and the disposal of a Canadian manufacturing facility.
NCR says net income rose to $48 million in the first quarter ending 31 March 2008, from $34 million a year earlier.
The vendor reported revenue of $1.18 billion for the first quarter, compared with $992 million in Q1 2007. However income from continuing operations for Q1 2008 included a $16 million pre-tax gain resulting from the sale of a Canadian manufacturing facility, says NCR.
NCR is also reporting revenue growth across its geographic regions. The vendor says revenue growth of 15% in the Americas region was driven primarily by sales growth to financial institutions and retailers. In Emea revenues increased 30% as every major country experienced revenue growth, says the vendor, while in the Asia-Pacific-Japan region revenue grew seven per cent.
"NCR has started 2008 on a positive note, delivering strong revenue growth, margin expansion and much improved cash flow," says Bill Nuti, chairman and CEO of NCR. "We're seeing increased traction for our newer self-service offerings as well as continued solid demand for core solutions and services across our geographic regions."
NCR has also boosted its revenue expectations for the year to between five and seven per cent, compared to previous forecasts of three to five per cent.
Earlier this year NCR launched its new range of SelfServ ATMs in the US, which are designed to deliver high levels of availability. The vendor is launching the product line in the UK this month.