Associated Press: Dayton, Ohio-based ATM manufacturer NCR Corp. boosted its first-quarter earnings forecast more than threefold April 11, citing a better-than-expected operating performance.
The company, which also makes point-of-sale terminals and barcode scanners, said it now expects to post first-quarter earnings of at least 16 cents per share — well above its prior forecast of 2 cents to 5 cents per share. Analysts surveyed by Thomson Financial were expecting the company to earn 5 cents per share.
Revenue is expected to rise to $1.34 billion, up 4 percent from a year ago, with 2 percentage points of that increase coming from foreign exchange translation.
Based on the strong performance in the first quarter, NCR now expects to report 2005 earnings per share in the $1.35 to $1.40 range, up from its previous forecast of $1.20 to $1.25. Analysts expected the company to post a profit of $1.29 per share.
