NCR Announces Fourth Quarter and Full Year 2019 Results

Staff Report From Metro Atlanta CEO

Thursday, February 13th, 2020

NCR Corporation (NYSE: NCR) reported financial results for the three months ended December 31, 2019. Fourth quarter, full year and other recent highlights include:

Fourth quarter revenue of $1.89 billion, up 5% as reported and up 6% constant currency

Fourth quarter GAAP diluted EPS of $2.67; Fourth quarter Non-GAAP diluted EPS of $0.85

Full year revenue of $6.92 billion, up 8% as reported and up 10% constant currency

Full year GAAP diluted EPS of $3.71; Full year Non-GAAP diluted EPS of $2.81

Full year cash from operations of $628 million; Full year free cash flow of $275 million

Completed acquisition of Zynstra to further enhance our next generation store architecture

2020 guidance announced

“Our fourth quarter results marked a strong finish to the year for NCR where we consistently delivered our revenue and earnings commitments,” said Michael Hayford, President and Chief Executive Officer. “This past year we strengthened our recurring revenue capabilities through our strategic growth platforms, began integrating our payments processing solution and generated year-over-year sales growth in each of our segments. We entered 2020 with strong momentum to accelerate our transition to a software and services-led enterprise and an as-a-Service company. The entire NCR team is aligned behind “NCR as-a-Service” as we look to move closer to our customers and elevate our agility and response to market dynamics. We believe these next steps will further position NCR for sustainable long-term growth as we deliver increased value to customers and help them provide differentiated experiences across their stores, restaurants and self-service banking platforms.”