Ncr Quarterly Report4/22/2021
Now moving to Slide 5 and an overview of our second-quarter performance.Lets conquer your financial goals together.faster.See you at the top.
![]() Michael Nelson, vice president of investor relations. Joining me on the call today are Mike Hayford, president and CEO; Owen Sullivan, COO; and Tim Oliver, CFO. Before we get started, let me remind you that our presentation and discussions will include forward-looking statements. These statements reflect our current expectations and beliefs, but theyre subject to risks and uncertainties that could cause actual results to differ materially from those expectations. These risks and uncertainties are described in our earnings release and our periodic filings with the SEC including our annual report. On todays call, we will also be discussing certain non-GAAP financial measures. These non-GAAP measures are described and reconciled to their GAAP counterparts in the presentation materials, the press release dated July 28, 2020, and on the investor relations page of our website. A replay of this call will be available later today on our website, ncr.com. With that, I would now like to turn the call over to Mike. Before I get started, I want to thank Andre Fernandez for all his work during his time at NCR. I appreciate all hes done, particularly around firming up our balance sheet, increasing the transparency with the investment community and helping organize our industry general manager structure. I also want to thank him for staying on until October 1 to ensure an effective leadership transition. I will begin with some of my views on the business including the impact from the coronavirus pandemic. Then I will review our second-quarter performance and talk about the success we are having with our digital-first contactless solutions. Tim Oliver, our newly appointed CFO, will then review our second-quarter financial numbers. Ncr Quarterly Report Software And ServicesJust two years ago, we began the shift to a customer-centric, digital-first, software and services business model. We made tremendous progress in 2019 and entered 2020 with strong momentum. When the global pandemic hit, we took aggressive steps to focus on three priorities. First, the security and safety of all of our employees around the globe. I want to express my appreciation to our employees who have shown incredible commitment and flexibility as well as an intense dedication to support our customers during these difficult times. While our financial results in the second quarter are disappointing on a year-over-year basis entirely due to the coronavirus pandemic, we are quite pleased with our companys performance during the quarter. Our revenues and margins held up better than we had expected. Our business success in the competitive marketplace was very strong, and we continue to make progress on our strategic product initiatives.
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