NCR presents new team after 4% drop in Q2 revenue

NCR Corporation announced a new organizational structure with the appointment of several new executives after the company reported 4 percent drop in revenue.
NCR revenue Q2 2018Owen Sullivan, chief operating officer, Frank D’Angelo, head of banking business unit, Tim Vanderham, chief technology officer, and Debra Bronder, chief human resources officer, are the new executives.

NCR said its revenue dropped 4 percent to $1.54 billion.

NCR’s Software revenue increased 1 percent to $470 million driven by cloud revenue growth of 7 percent.

NCR’s Services revenue rose 4 percent to $610 million driven by hardware maintenance and implementation services growth, as well as continued momentum in managed service offerings.

NCR’s Hardware revenue fell 16 percent to $457 million. ATM revenue declined 21 percent to $180 million primarily due to supply constraints related to higher than expected demand for new products.

ATM orders increased for the second consecutive quarter, which is expected to drive improved revenue performance in the second half of the year.

NCR said SCO revenue increased 3 percent to $99 million due to the timing of customer roll-outs. POS revenue decreased 16 percent to $178 million in the quarter compared to growth of 18 percent in the prior year, which benefited from several large customer roll-outs.

“I spent my first ninety days engaging with customers and employees around the world and am excited about our long-term growth profile. We are taking a number of steps to address current challenges with the goal of accelerating our growth and driving improved utilization of our resources,” NCR CEO Michael Hayford said.

NCR said its COO Owen Sullivan will be responsible for overseeing several of NCR’s functions and operations, including Sales, Services, Software Engineering & Innovation, Industry Solutions Management, Product Development, Hardware Product Operations, and Information Technology Services.

Owen Sulliva earlier worked with ManpowerGroup, Metavante and IBM.

NCR has formed two new business units, Banking and Commerce. Frank D’Angelo will be the president of its Banking business unit. Paul Langenbahn will be the president of its Commerce business unit, which serves the retail and hospitality sectors.