NCR increases first quarter earnings estimates

Source: NCR

NCR Corporation (NYSE:NCR) today announced that it anticipates its first-quarter earnings to exceed its prior guidance due to better-than-expected operating performance.

NCR now expects first-quarter earnings of $0.16 or more per share. NCR's earnings guidance for the first quarter was $0.02 to $0.05 per share. According to First Call, the mean estimate among Wall Street analysts for the first quarter of 2005 is $0.05 per share.

NCR expects to report first-quarter revenue of approximately $1.34 billion, an increase of 4 percent from the first quarter of 2004, including a 2 percentage point benefit from foreign currency fluctuations.

"NCR's continued earnings momentum reflects our technology leadership in attractive markets, the strong execution by the management team in each of our business units and the success of our ongoing structural changes to improve the company's overall profitability," said NCR Director and Interim Chief Executive Officer James M. Ringler.

Based on the first-quarter outperformance, NCR now expects 2005 earnings per share in the $1.35 to $1.40 range. This is an increase from the company's previous earnings guidance of $1.20 to $1.25 for the year.

NCR will provide more detailed information regarding its first-quarter results and its increased 2005 earnings guidance on April 28, 2005.

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