First Data’s continued losses, laden with debt and milked by KKR minions makes its upcoming IPO for fools. The Company, valued at $40 billion, managed to lose $26 million in the second quarter which it blames on foreign currencies – total mismanagement and lack of foresight.
Wincor Nixdorf reported a significant decline in operating profit as a result of the restructuring program. Profit for the first nine months of the fiscal year stood at €25 million (€61 million), which represents a decline of 59%.
The recent loss of Ed Gilligan at American Express has spurred CEO Ken Chenault to make major changes. The changes include the realignment of several businesses and reporting lines.
Driven by sagging revenues in China and Russia, German-based Wincor Nixdorf is undertaking a major restructuring after posting a 65% decline in net profits for the first quarter, compared to one-year ago. The Company will cut its workforce by 12% and may take it cashless business to an IPO.
MoneyGram announced several operational and organizational changes to better support the Company’s corporate objectives, including its goal of reaching $2 billion in annual revenue in 2017. These actions include realigning the organizational structure and commencing a global transformation program designed to help MoneyGram lead the industry in compliance, fuel multi-channel growth and improve its cost structure. MoneyGram has made several changes to its executive committee to position the Company for continued growth. W. Alexander Holmes has been named chief operating officer, effective immediately. He will also maintain his current titles and responsibilities as executive vice president and chief financial officer. In his expanded role, Holmes will be responsible for oversight of all finance, technology and operations functions. The following executives have been named executive vice president of their respective positions and will continue to report to MoneyGram’s chairman and chief executive officer, Pamela H. Patsley: W. Alexander Hoffmann, Global Product Management and Emerging Channels; Grant Lines, Asia Pacific, South Asia and Middle East; and Peter Ohser, U.S. and Canada. The three-year global transformation program designed to strengthen MoneyGram’s competitive position consist of Enhancing compliance, Investing for growth, Reorganization and restructuring.
Wincor Nixdorf AG is pooling its software and professional services expertise in Utrecht in the Netherlands. Wincor Nixdorf CEO Eckard Heidloff officially opened the new Software Headquarters on September 18, 2013 in the presence of Remco van Lunteren, Member of the Provincial Executive of the Province of Utrecht. Wincor Nixdorf aims to build on its software strength and is already generating revenue of more than EUR300 million in the software sector. Around 50 employees from Wincor Nixdorf will initially start work in the office complex in Utrecht from October 1; the addition of further staff is also planned. Software for banks and retail companies Banks and retail companies worldwide are striving to make their branch and store processes leaner and more automated. Banks and retailers tend to use non-standardized software. Wincor Nixdorf therefore sees great opportunities in this for offering standard software to handle all the self-service and branch or store processes, irrespective of the hardware installed. Functional enhancements can thus be added quickly and cost-effectively.
Diebold, Incorporated (DBD) announced that Stefan E. Merz has been appointed senior vice president of strategic projects, effective Aug. 1. In this role, Merz will be responsible for driving Diebold’s transformation strategy, helping execute on the company’s previously disclosed multi-year realignment plan, and identifying other areas of improvement that will drive future growth. With executive-level experience in strategic development, business intelligence, sales effectiveness and business transformation, Merz has a proven record of driving results and improving profitability in large, global technology companies. Merz held various leadership positions at Hewlett-Packard (HP) Enterprise Group and at Siemens AG, based in Munich, Germany, most recently serving as vice president of strategy and marketing. In this role, he was responsible for defining the organization’s enterprise services strategy and growth initiatives.
NCR Corporation announced as part of the regional realignment of its management team, Navroze Dastur has been promoted to be the new managing director for NCR India, reporting to Jaivinder Gill who will now assume the role of Vice President – South Asia Pacific for Financial business. Navroze has been with NCR for the past seven years as the senior general manager for strategic alliance and payment solutions responsible for charting the company’s overall growth strategy for the payments business and partner alliances.
Wincor Nixdorf has reorganized its cooperation with sales partners to better tap growth potential in key markets, such as emerging countries, together with partners. It is to merge its activities, which used to be separated along the lines of the two sectors of retail banking and retailing, in a joint organization with global responsibility at headquarters and create a regional organization for the Middle East and Africa. The objective of the new organization is to make it easier for partners worldwide to access Wincor Nixdorf’s entire portfolio and to actively support them in developing their local business.
Usually a solid performer, Diebold felt a 4Q/10 loss from continuing operations of ($119.9) million from the $7.9 million gained in the year ago period. Revenue was up though by 9%, posting a solid $791.0 million from 4Q/09 thanks to global orders having increased 7%, a growth of 12% since 4Q/09. Every region of the world was good to Diebold throughout the quarter with revenue growth from 3% in EMEA on the low end to 19% in Latin America. Performance was thanks to financial self-service orders in North America having grown in the recovery and a growing demand for deposit automation solutions. While Latin America and Asia are reliable markets for the Company, Europe continues to prove a challenge. Diebold is seeking to tap the market and re-engineering its infrastructure to free up more resources, after experiencing less than 3% on the Continent. Meanwhile, total operating expenses as a percentage of revenue for the quarter was 41.9%, an increase of 21.5% Y/Y, and included a net $0.3 million of restructuring charges and $9.2 million in restructuring charges thanks to U.S. workforce reduction. For the full-year 2010 operating loss was (0.1%) of revenue, down 5.6% from the year ago period while non-GAAP operating profit was 6.9%, up 0.7% year-over-year.
Diebold posted 2Q/10 income from continuing operations of $30.4 million, compared to $24.9 million last quarter, while revenue was $665.2 million, down 4% from 2Q/09. Total revenue was down 4%, including a net positive currency impact of 3% while total gross margin was 26.8%, an increase of 2.4 percentage points from the year ago period. Operating profit was 7.0% of net sales in the second quarter 2010, an increase of 0.3 percentage points from the second quarter 2009. Included in operating profit in both periods were restructuring charges and non-routine income, as well as an impairment charge in the second quarter 2010. Excluding these items from both periods, non-GAAP operating profit margin* was 7.8% in the second quarter 2010 and 7.1% in the second quarter 2009. Income from continuing operations was $30.4 million, or 4.6% of revenue in the second quarter 2010, a decrease of 4.9%, or 0.1 percentage points from the second quarter 2009.
NCR Reported revenue of $1.35 billion decreased 5% from the fourth
quarter of 2008. Also reported was a fourth-quarter loss from continuing
operations (attributable to NCR) of $56 million, or $0.35 per diluted
compared to income from continuing operations (attributable to NCR) of
$55 million in the fourth quarter of 2008. Income from continuing
operations in the fourth quarter of 2009 included a $151 million ($97
million after-tax) net charge, or $0.60 per diluted share, related to
River environmental matter, a $24 million ($15
million after-tax), or $0.09 per diluted share, impairment charge
related to an equity investment and related assets, and $6 million ($4
million after-tax), or $0.03 per diluted share of incremental costs
related to the relocation of the Companyâs global headquarters. Income
from continuing operations for the fourth quarter of 2008 included $53
million ($38 million after-tax) in costs, or $0.24 per diluted share,
resulting from organizational realignment activities, legal matters and
the Fox River environmental matter. Excluding these items, non-GAAP
earnings per share (1) in the fourth quarter of 2009 was $0.37 per
diluted share compared to $0.58 in the prior year period. For more
details on NCR’s second quarter performance visit CardData
NCR REVENUE HISTORICAL
2Q/08: $1.33 billion
3Q/08: $1.38 billion
4Q/08: $1.42 billion
1Q/09: $1.01 billion
2Q/09: $1.12 billion
3Q/09: $1.42 billion
4Q/09: $1.35 billion
Source: CardData (www.carddata.com)