NCR Corporation (NYSE: NCR) is an American technology company specializing in kiosk products for the retail, financial, travel, healthcare, food service, entertainment, gaming and public sector industries. Its main products are self-service kiosks, point-of-sale terminals, automated teller machines, check processing systems, barcode scanners, and business consumables. They also are one of the largest providers of IT maintenance support services[citation needed]. From 1988 to 1997 they sponsored the NCR Book Award for non-fiction. It was based in Dayton, Ohio, since 1884, but in June 2009, they sold most of the properties in Dayton and moved its headquarters to the city of Duluth (Gwinnett County), Georgia.[5]
The company was founded in 1884 and acquired by AT&T in 1991. A restructuring of AT&T in 1996 led to NCR's re-establishment on 1 January 1997 as a separate company, and also involved the spin-off from AT&T of Lucent Technologies; NCR is the only AT&T acquisition that has retained its original name – all others have either been purchased or renamed following subsequent mergers.
NCR Corporation (NCR), incorporated in 1884, provides technology and services that help businesses connect, interact and transact with their customers. Through its presence at customer interaction points, such as automated teller machines (ATMs), retail point-of-sale (POS) workstations, self-service kiosks, self-check-in/out systems and DVD kiosks, the Company’s solutions enable companies to address consumer demand. NCR also provides a portfolio of services to help customers design, deploy, support and manage technology solutions for its products, as well as select third-party products. NCR provides solutions for customers in a range of industries, such as financial services, retail and hospitality, travel and gaming, healthcare, and entertainment. It operates in three segments: Americas, Europe, Middle East and Africa (EMEA) and Asia Pacific and Japan (APJ). On April 2009, the Company acquired the remaining 80.4% interest in TNR Holdings Corporation (TNR). On October 31, 2009, it acquired Netkey, Inc. On December 8, 2009, it acquired DVDPlay. In October 2010, the Company acquired Mobiqa.
The Company provides financial institutions, retailers and independent deployers with financial-oriented, self-service technologies, such as ATMs, cash dispensers, and software solutions, including the APTRA application suite and consulting services related to ATM security, software and bank branch optimization. ATM and Financial Terminal solutions are designed to process consumer transactions and incorporate features, such as automated check cashing/deposit, automated cash deposit, Web-enablement and bill payment. NCR provides self-service kiosks to the retail and hospitality, travel and gaming, healthcare and entertainment industries. NCR’s versatile kiosk solutions can support numerous retail self-service functions, including self-checkout, wayfinding, bill payment and gift registries. The Company provides kiosk solutions to airlines that enable self check-in and to hotels/casinos that allow guests to check-in/out without assistance. NCR’s healthcare kiosk solutions offer wireless self-check-in for patients, integrate with information systems and physician practice management systems to make the check-in and check-out processes.
The Company provides retail-oriented technologies, such as POS terminals, bar-code scanners, software and services to companies worldwide. NCR’s check and document imaging offerings provide end-to-end solutions for both traditional paper-based and image-based check and item processing. These solutions utilize image recognition and workflow technologies to automate item processing. NCR provides maintenance and support services for all NCR product offerings. In addition to these maintenance and support services, NCR also provides other services, including site assessment and preparation, staging, installation and implementation, systems management and managed services. NCR also services third-party computer hardware from select manufacturers, such as Cisco Systems.
NCR develops, produces and markets a line of printer consumables for various print technologies. These products include two-sided thermal paper (2ST), paper rolls for receipts in ATMs and POS solutions, inkjet and laser printer supplies, thermal transfer and ink ribbons, labels, laser documents, business forms, and specialty media items such as photo and presentation papers.
Diebold, Inc., Wincor Nixdorf GmbH & Co., IBM, Wincor, Fujitsu, Hewlett-Packard, Dell, Honeywell, Datalogic, Cummins, Coinstar, Inc., RiteMade Paper, Schades, Metavante Corporation and Unisys Corporation.
Then NCR ran into a formidable adversary, the American Telephone & Telegraph Company (AT&T). Seeking to bolster its failing computer division, AT&T issued a bid for NCR in December 1990, placing the purchase price at $90 a share, or $6.1 billion. The bid was met with instant hostility by NCR and over the next five months the tug-of-war was played out in the media. NCR Chairman Charles Exley publicly expressed his disdain at the thought of helping AT&T become profitable in the computer field and vowed to quit if the takeover were successful. AT&T countered with a proxy fight to unseat the NCR board of directors. Both sides hired high-powered advisers--takeover lawyer Martin Lipton and Chemical Bank for AT&T, and investment bankers Goldman-Sachs for NCR.
NCR fought hard by taking out full-page newspaper advertisements to turn public opinion its way and by asking the FCC to investigate AT&T's bid. In the end, AT&T agreed to pay the $110 per share, or $7.4 billion, that NCR was demanding, stipulating, however, that payment be made in AT&T stock. The merger was completed in September 1991. In July NCR announced plans to create a new division to market computer products to telephone companies. NCR's market position was slowed by the hostile takeover and subsequent adjustment period. Exley retired in February 1992 and Gilbert Williamson, NCR president, succeeded him as CEO. Elton White, executive vice-president, moved into the president's spot.
Incorporating NCR, with its superior product development capabilities and focused marketing plan, into AT&T, whose computer products were not as sophisticated but whose market was universal, proved to be a challenging task. To counter the market drop, a restructuring of NCR occurred almost immediately. In August 1992, even before the merger was completed, plans to close NCR's Cambridge, Ohio plant were announced. In November NCR's Workstation Products Division was split into smaller groups that would function as independent corporations. A number of AT&T employees and products were moved into the division at this time. That same month, AT&T announced that 120 workers would be released from NCR's Network Products Division in St. Paul, Minnesota.
Despite the internal upheaval caused by the hostile takeover bid, NCR continued to develop new products. A pen-based notepad computer, the NCR System 3125, was introduced in June 1991. The computer was the first of its kind to use an electronic stylus instead of a keyboard. The alliance with Teradata was solidified in December when NCR purchased the company for $520 million in AT&T stock. Ironically, Teradata's biggest customer had been AT&T.
In early 1993, after initially keeping a "hands-off" attitude toward NCR, AT&T installed one of its executives, Jerre Stead, as NCR CEO. Stead's casual, "open-door" approach was one that clashed with NCR's conservative corporate culture, and his desire to broaden NCR's focus and step up the company's production of PCs was not popular in all quarters. In 1994 NCR also was renamed AT&T Global Information Solutions (GIS).
Under AT&T's management NCR/GIS was not performing up to par, however, and Stead jumped ship in 1995. The company found a replacement in Lars Nyberg, a Swede who had successfully turned around the fortunes of Philips Electronics N.V.'s computer division. Nyberg immediately began to make serious changes, announcing a restructuring that included the layoffs of 20 percent of the company's workforce. NCR was reportedly losing almost $2 million a day for AT&T, and Nyberg also made the decision to get out of the PC business, in which NCR seemed to have few prospects for long-term success. The company also dropped the unpopular GIS name and became known as NCR once again.
In early 1996 AT&T announced that it would spin off NCR as part of a massive realignment, issuing to its shareholders NCR stock worth nearly $4 billion, or about half of what it had invested in the company four years earlier. NCR became independent in January 1997, and its stock resumed trading on the New York Stock Exchange. Nyberg continued his efforts to restore NCR's fortunes and reorganized further during the year, cutting another 1,000 jobs and reconfiguring the company's structure into five large divisions from 130 smaller ones. He also sold three of the company's manufacturing plants to Solectron, Inc., who would continue to make computer hardware for NCR at the facilities. Two acquisitions were completed as well, those of Compris Technologies, Inc. and Dataworks, companies that made software for the food service and retail sectors. The company posted a small profit in 1997, its first in five years.
NCR's fortunes were on the upswing in part because of the company's focus on the relatively new field of data warehousing. Sifting through the vast amounts of data generated when millions of consumers used ATMs or made purchases, businesses could discern patterns that allowed narrow targeting of product pitches to individual customers. NCR had half of the market in this field, and analysts estimated that most Fortune 1000 companies would double the size of their data warehouses within the next several years. NCR was also the top maker of ATMs worldwide, with about 27 percent of the international market.
As it continued to fine-tune operations in 1998, the company eliminated 5,200 more jobs and also repurchased $200 million worth of stock. Revenues for the year dropped by one percent but earnings increased more than 15fold, to $122 million. NCR also acquired half ownership of Stirling Douglas Group, Inc., a maker of software for retail businesses, and announced a partnership with Microsoft to develop advanced data warehousing systems. In early 1999 NCR's board approved a further $250 million stock buyback. Freed from the stranglehold of AT&T, NCR appeared to be making a remarkably swift recovery and was positioned for further growth with its command of the expanding data warehousing and ATM markets.
Principal Subsidiaries: NCR Nederland NV (Netherlands); NCR Australia Pty. Ltd.; NCR Canada Ltd.; NCR France, S.A.; NCR GmbH (Germany); NCR Japan Ltd.; NCR Espana, S.A. (Spain); NCR (Switzerland); NCR Ltd. (U.K.); NCR Danmark A/S (Denmark); NCR Argentina SAIC; NCR de Mexico, S.A. de C.V.; Data Pathing, Inc.; Compris Technologies, Inc.; International Investments, Inc.; National Cash Register Co.; North American Research Corp.; Old River Software, Inc.; Quantor Corp.; Sparks, Inc.; Microcard Corp.; NCR Overseas Trade Corp.; Scott Electronics Corp.; Dataworks; Stirling Douglas Group, Inc. (50%).
Principal Operating Units: Retail; Financial; National Accounts Solutions; Systemedia.
OVERALL
Beta: 1.42
Market Cap (Mil.): $3,159.31
Shares Outstanding (Mil.): 158.60
Annual Dividend: --
Yield (%): --
FINANCIALS
NCR Industry Sector
P/E (TTM): 22.97 20.83 19.91
EPS (TTM): 144.57 -- --
ROI: 5.06 20.99 15.90
ROE: 18.59 22.83 17.49
Statistics:
Public Company
Incorporated: 1900 as National Cash Register Company
Employees: 33,100
Sales: $6.51 billion (1998)
Stock Exchanges: New York
Ticker Symbol: NCR
NAIC: 333313 Office Machinery Manufacturing; 334111 Electronic Computer Manufacturing; 334119 Other Computer Peripheral Equipment Manufacturing; 51121 Software Publishers; 541512 Computer Systems Design Services; 811212 Computer & Office Machine Repair & Maintenance; 339944 Carbon Paper & Inked Ribbon Manufacturing; 323110 Commercial Lithographic Printing; 323116 Manifold Business Form Printing
Name Age Since Current Position
Nuti, William 47 2007 Chairman of the Board, President, Chief Executive Officer
Fishman, Robert 47 2010 Chief Financial Officer, Senior Vice President
Bruno, John 46 2008 Executive Vice President - Industry Solutions Group
Daniels, Jennifer 47 2010 Senior Vice President, General Counsel, Secretary
Leav, Peter 40 2009 Senior Vice President - Worldwide Sales
Ledford, Andrea 45 2007 Senior Vice President - Human Resources
Bogan, Daniel 55 2008 Senior Vice President, General Manager - NCR Consumables
Dorsman, Peter 55 2010 Senior Vice President - Global Operations
O'Laughlin, Michael 2011 Senior Vice President - Financial Services
Levinson, Linda 69 2007 Lead Independent Director
Boykin, Edward 72 2002 Independent Director
Daichendt, Gary 59 2006 Independent Director
Clemmer, Richard 60 2008 Independent Director
DeRodes, Robert 60 2008 Independent Director
Allen, Quincy 50 2009 Independent Director
Address:
1700 South Patterson Boulevard
Dayton, Ohio 45479
U.S.A.
The company was founded in 1884 and acquired by AT&T in 1991. A restructuring of AT&T in 1996 led to NCR's re-establishment on 1 January 1997 as a separate company, and also involved the spin-off from AT&T of Lucent Technologies; NCR is the only AT&T acquisition that has retained its original name – all others have either been purchased or renamed following subsequent mergers.
NCR Corporation (NCR), incorporated in 1884, provides technology and services that help businesses connect, interact and transact with their customers. Through its presence at customer interaction points, such as automated teller machines (ATMs), retail point-of-sale (POS) workstations, self-service kiosks, self-check-in/out systems and DVD kiosks, the Company’s solutions enable companies to address consumer demand. NCR also provides a portfolio of services to help customers design, deploy, support and manage technology solutions for its products, as well as select third-party products. NCR provides solutions for customers in a range of industries, such as financial services, retail and hospitality, travel and gaming, healthcare, and entertainment. It operates in three segments: Americas, Europe, Middle East and Africa (EMEA) and Asia Pacific and Japan (APJ). On April 2009, the Company acquired the remaining 80.4% interest in TNR Holdings Corporation (TNR). On October 31, 2009, it acquired Netkey, Inc. On December 8, 2009, it acquired DVDPlay. In October 2010, the Company acquired Mobiqa.
The Company provides financial institutions, retailers and independent deployers with financial-oriented, self-service technologies, such as ATMs, cash dispensers, and software solutions, including the APTRA application suite and consulting services related to ATM security, software and bank branch optimization. ATM and Financial Terminal solutions are designed to process consumer transactions and incorporate features, such as automated check cashing/deposit, automated cash deposit, Web-enablement and bill payment. NCR provides self-service kiosks to the retail and hospitality, travel and gaming, healthcare and entertainment industries. NCR’s versatile kiosk solutions can support numerous retail self-service functions, including self-checkout, wayfinding, bill payment and gift registries. The Company provides kiosk solutions to airlines that enable self check-in and to hotels/casinos that allow guests to check-in/out without assistance. NCR’s healthcare kiosk solutions offer wireless self-check-in for patients, integrate with information systems and physician practice management systems to make the check-in and check-out processes.
The Company provides retail-oriented technologies, such as POS terminals, bar-code scanners, software and services to companies worldwide. NCR’s check and document imaging offerings provide end-to-end solutions for both traditional paper-based and image-based check and item processing. These solutions utilize image recognition and workflow technologies to automate item processing. NCR provides maintenance and support services for all NCR product offerings. In addition to these maintenance and support services, NCR also provides other services, including site assessment and preparation, staging, installation and implementation, systems management and managed services. NCR also services third-party computer hardware from select manufacturers, such as Cisco Systems.
NCR develops, produces and markets a line of printer consumables for various print technologies. These products include two-sided thermal paper (2ST), paper rolls for receipts in ATMs and POS solutions, inkjet and laser printer supplies, thermal transfer and ink ribbons, labels, laser documents, business forms, and specialty media items such as photo and presentation papers.
Diebold, Inc., Wincor Nixdorf GmbH & Co., IBM, Wincor, Fujitsu, Hewlett-Packard, Dell, Honeywell, Datalogic, Cummins, Coinstar, Inc., RiteMade Paper, Schades, Metavante Corporation and Unisys Corporation.
Then NCR ran into a formidable adversary, the American Telephone & Telegraph Company (AT&T). Seeking to bolster its failing computer division, AT&T issued a bid for NCR in December 1990, placing the purchase price at $90 a share, or $6.1 billion. The bid was met with instant hostility by NCR and over the next five months the tug-of-war was played out in the media. NCR Chairman Charles Exley publicly expressed his disdain at the thought of helping AT&T become profitable in the computer field and vowed to quit if the takeover were successful. AT&T countered with a proxy fight to unseat the NCR board of directors. Both sides hired high-powered advisers--takeover lawyer Martin Lipton and Chemical Bank for AT&T, and investment bankers Goldman-Sachs for NCR.
NCR fought hard by taking out full-page newspaper advertisements to turn public opinion its way and by asking the FCC to investigate AT&T's bid. In the end, AT&T agreed to pay the $110 per share, or $7.4 billion, that NCR was demanding, stipulating, however, that payment be made in AT&T stock. The merger was completed in September 1991. In July NCR announced plans to create a new division to market computer products to telephone companies. NCR's market position was slowed by the hostile takeover and subsequent adjustment period. Exley retired in February 1992 and Gilbert Williamson, NCR president, succeeded him as CEO. Elton White, executive vice-president, moved into the president's spot.
Incorporating NCR, with its superior product development capabilities and focused marketing plan, into AT&T, whose computer products were not as sophisticated but whose market was universal, proved to be a challenging task. To counter the market drop, a restructuring of NCR occurred almost immediately. In August 1992, even before the merger was completed, plans to close NCR's Cambridge, Ohio plant were announced. In November NCR's Workstation Products Division was split into smaller groups that would function as independent corporations. A number of AT&T employees and products were moved into the division at this time. That same month, AT&T announced that 120 workers would be released from NCR's Network Products Division in St. Paul, Minnesota.
Despite the internal upheaval caused by the hostile takeover bid, NCR continued to develop new products. A pen-based notepad computer, the NCR System 3125, was introduced in June 1991. The computer was the first of its kind to use an electronic stylus instead of a keyboard. The alliance with Teradata was solidified in December when NCR purchased the company for $520 million in AT&T stock. Ironically, Teradata's biggest customer had been AT&T.
In early 1993, after initially keeping a "hands-off" attitude toward NCR, AT&T installed one of its executives, Jerre Stead, as NCR CEO. Stead's casual, "open-door" approach was one that clashed with NCR's conservative corporate culture, and his desire to broaden NCR's focus and step up the company's production of PCs was not popular in all quarters. In 1994 NCR also was renamed AT&T Global Information Solutions (GIS).
Under AT&T's management NCR/GIS was not performing up to par, however, and Stead jumped ship in 1995. The company found a replacement in Lars Nyberg, a Swede who had successfully turned around the fortunes of Philips Electronics N.V.'s computer division. Nyberg immediately began to make serious changes, announcing a restructuring that included the layoffs of 20 percent of the company's workforce. NCR was reportedly losing almost $2 million a day for AT&T, and Nyberg also made the decision to get out of the PC business, in which NCR seemed to have few prospects for long-term success. The company also dropped the unpopular GIS name and became known as NCR once again.
In early 1996 AT&T announced that it would spin off NCR as part of a massive realignment, issuing to its shareholders NCR stock worth nearly $4 billion, or about half of what it had invested in the company four years earlier. NCR became independent in January 1997, and its stock resumed trading on the New York Stock Exchange. Nyberg continued his efforts to restore NCR's fortunes and reorganized further during the year, cutting another 1,000 jobs and reconfiguring the company's structure into five large divisions from 130 smaller ones. He also sold three of the company's manufacturing plants to Solectron, Inc., who would continue to make computer hardware for NCR at the facilities. Two acquisitions were completed as well, those of Compris Technologies, Inc. and Dataworks, companies that made software for the food service and retail sectors. The company posted a small profit in 1997, its first in five years.
NCR's fortunes were on the upswing in part because of the company's focus on the relatively new field of data warehousing. Sifting through the vast amounts of data generated when millions of consumers used ATMs or made purchases, businesses could discern patterns that allowed narrow targeting of product pitches to individual customers. NCR had half of the market in this field, and analysts estimated that most Fortune 1000 companies would double the size of their data warehouses within the next several years. NCR was also the top maker of ATMs worldwide, with about 27 percent of the international market.
As it continued to fine-tune operations in 1998, the company eliminated 5,200 more jobs and also repurchased $200 million worth of stock. Revenues for the year dropped by one percent but earnings increased more than 15fold, to $122 million. NCR also acquired half ownership of Stirling Douglas Group, Inc., a maker of software for retail businesses, and announced a partnership with Microsoft to develop advanced data warehousing systems. In early 1999 NCR's board approved a further $250 million stock buyback. Freed from the stranglehold of AT&T, NCR appeared to be making a remarkably swift recovery and was positioned for further growth with its command of the expanding data warehousing and ATM markets.
Principal Subsidiaries: NCR Nederland NV (Netherlands); NCR Australia Pty. Ltd.; NCR Canada Ltd.; NCR France, S.A.; NCR GmbH (Germany); NCR Japan Ltd.; NCR Espana, S.A. (Spain); NCR (Switzerland); NCR Ltd. (U.K.); NCR Danmark A/S (Denmark); NCR Argentina SAIC; NCR de Mexico, S.A. de C.V.; Data Pathing, Inc.; Compris Technologies, Inc.; International Investments, Inc.; National Cash Register Co.; North American Research Corp.; Old River Software, Inc.; Quantor Corp.; Sparks, Inc.; Microcard Corp.; NCR Overseas Trade Corp.; Scott Electronics Corp.; Dataworks; Stirling Douglas Group, Inc. (50%).
Principal Operating Units: Retail; Financial; National Accounts Solutions; Systemedia.
OVERALL
Beta: 1.42
Market Cap (Mil.): $3,159.31
Shares Outstanding (Mil.): 158.60
Annual Dividend: --
Yield (%): --
FINANCIALS
NCR Industry Sector
P/E (TTM): 22.97 20.83 19.91
EPS (TTM): 144.57 -- --
ROI: 5.06 20.99 15.90
ROE: 18.59 22.83 17.49
Statistics:
Public Company
Incorporated: 1900 as National Cash Register Company
Employees: 33,100
Sales: $6.51 billion (1998)
Stock Exchanges: New York
Ticker Symbol: NCR
NAIC: 333313 Office Machinery Manufacturing; 334111 Electronic Computer Manufacturing; 334119 Other Computer Peripheral Equipment Manufacturing; 51121 Software Publishers; 541512 Computer Systems Design Services; 811212 Computer & Office Machine Repair & Maintenance; 339944 Carbon Paper & Inked Ribbon Manufacturing; 323110 Commercial Lithographic Printing; 323116 Manifold Business Form Printing
Name Age Since Current Position
Nuti, William 47 2007 Chairman of the Board, President, Chief Executive Officer
Fishman, Robert 47 2010 Chief Financial Officer, Senior Vice President
Bruno, John 46 2008 Executive Vice President - Industry Solutions Group
Daniels, Jennifer 47 2010 Senior Vice President, General Counsel, Secretary
Leav, Peter 40 2009 Senior Vice President - Worldwide Sales
Ledford, Andrea 45 2007 Senior Vice President - Human Resources
Bogan, Daniel 55 2008 Senior Vice President, General Manager - NCR Consumables
Dorsman, Peter 55 2010 Senior Vice President - Global Operations
O'Laughlin, Michael 2011 Senior Vice President - Financial Services
Levinson, Linda 69 2007 Lead Independent Director
Boykin, Edward 72 2002 Independent Director
Daichendt, Gary 59 2006 Independent Director
Clemmer, Richard 60 2008 Independent Director
DeRodes, Robert 60 2008 Independent Director
Allen, Quincy 50 2009 Independent Director
Address:
1700 South Patterson Boulevard
Dayton, Ohio 45479
U.S.A.