Magazine article American Banker

NCR CEO Nuti Says Recent Deals Have Company Poised for Growth

Magazine article American Banker

NCR CEO Nuti Says Recent Deals Have Company Poised for Growth

Article excerpt

Byline: Will Hernandez

NCR Corp.'s acquisition and pension costs contributed to a decrease in third-quarter profits. But the chief executive of the ATM and kiosk maker expects two recent purchases, combined with continued demand worldwide, to generate strong long-term growth.

"Our third quarter featured strong execution and performance in addition to two strategic transactions that will help shape NCR's future," Bill Nuti, chairman and CEO of NCR, told analysts during a conference call Oct. 27.

In August, NCR completed its acquisition of software vendor Radiant Systems Inc. NCR said at the time it expects the purchase to cut administrative and personnel costs and spur growth in international markets.

"This new vertical market offers significant revenue opportunities for NCR, from both a customer and geographic standpoint. And, most importantly, the businesses, technologies and market approach accelerate our drive to a more software-enabled business model in the years ahead," Nuti told analysts.

NCR also recently announced an alliance with Scopus Tecnologica, a subsidiary of the Brazilian financial group Banco Bradesco S.A. The partnership, which comes with an ATM supply agreement with Banco, expands NCR's presence in the growing Brazilian market, Nuti said.

NCR will supply Banco with some 30,000 ATMs in the next five years, he said.

The company's financial services segment, which includes ATMs, generated third-quarter revenue of $770 million, up 18% from $655 million. …

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