NCR Spikes On Big Q3 on Astini News
NCR shares traded up sharply after hours Thursday on better-than-expected Q3 results.
The maker ATMs and point-of-sale systems posted third quarter revenue of $1.40 billion and non-GAAP profits of 53 cents a share, ahead of the Street at $1.37 billion and 47 cents. Revenues were up 16% from a year ago.
For all of 2011, the company now sees revenue growth of 8%-10%, up from a previous forecast of 6%-8%. NCR sees non-GAAP profits of $1.79 to $1.83 a share, up from previous guidance of $1.73 to $1.80.
"Our third quarter featured strong execution and performance in addition to two strategic transactions that will help shape NCR's future," CEO Bill Nuti said in a statement. "We are winning business across our core and emerging verticals and exited the quarter with backlog at historic levels. We also continue to expand our services business through increased attach rates both in traditional and emerging markets, the latter evidenced by an important new ATM services contract with one of China's largest banks."
NCR in late trading jumped 89 cents, or 4.5%, to $20.49.
