NCR Corporation (NYSE: NCR) reported financial results today for the three months ended June 30, 2009. Reported revenue of $1.12 billion decreased 16 percent from the second quarter of 2008 and included approximately 4 percentage points of negative impact from foreign currency translation.
NCR reported second-quarter income from continuing operations (attributable to NCR) of $23 million, or $0.14 per diluted share, compared to income from continuing operations (attributable to NCR) of $45 million or $0.26 per diluted share in the second quarter of 2008. Income from continuing operations included a $4 million ($2 million after-tax) benefit from an insurance settlement related to the Fox River environmental matter. Income from continuing operations for the second quarter of 2008 included $32 million ($23 million after tax) in costs, or $0.14 per diluted share, resulting from organizational realignment activities. Excluding these items, non-GAAP income from continuing operations(1) in the second quarter of 2009 was $0.13 per diluted share compared to $0.40 per diluted share in the prior-year period.
"While NCR continues to operate in a challenging environment for the core end markets we serve, our solutions are generating results in the areas where our customers are investing," said Bill Nuti, chairman and chief executive officer of NCR. "In the meantime, we are executing on our vision to lead the self-service revolution in customer transactions, as evidenced by our entry into the entertainment kiosk market, and we are winning business in other new industry verticals as well. We have also taken steps to enhance our global competitive position through major investments in our infrastructure in both the U.S. and South America. These initiatives will strengthen our manufacturing and sourcing capabilities and further improve our innovation, productivity, and ability to meet customer needs."
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