NCR Announces Strong First Quarter Results

  NCR Announces Strong First Quarter Results

  *Operational results ahead of Company expectations
  *Revenue growth of 13% compared to prior-year period
  *Significant software growth and gross margin rate expansion
  *GAAP diluted EPS from continuing operations of $0.37, compared to $(0.06)
    in the prior year period; non-GAAP diluted EPS from continuing
    operations^(2) of $0.54, an increase of 15% compared to the prior-year
    period
  *Full-year 2013 revenue guidance reaffirmed; NPOI^(2) and non-GAAP diluted
    EPS^(2) guidance increased
  *Announcing Phase III of pension strategy

Business Wire

DULUTH, Ga. -- April 30, 2013

NCR Corporation (NYSE: NCR) reported financial results today for the three
months ended March31, 2013. Reported revenue of $1.41 billion increased 13%
from the first quarter of 2012. First-quarter revenue includes an unfavorable
impact of 2% as a result of foreign currency translation.

NCR reported first quarter income from continuing operations (attributable to
NCR) of $62 million, or $0.37 per diluted share, compared to loss from
continuing operations (attributable to NCR) of $10 million, or $(0.06) per
diluted share, in the first quarter of 2012. Excluding pension and special
items, non-GAAP income from continuing operations^(2) in the first quarter of
2013 was $129 million, or $0.54 per diluted share, compared to $101 million,
or $0.47 per diluted share, in the prior-year period. An identification of
those special items, and the impact of pension and those special items on
income from continuing operations and diluted earnings per share, are set
forth in the supplemental non-GAAP reconciliation tables and accompanying
footnotes that are included following the "Note to Investors" at the end of
this earnings release.

Effective in the first quarter of 2013, NCR changed the accounting methodology
for recognizing expense for its company-sponsored U.S. and international
pension benefit plans. From 2013 forward, NCR will recognize changes in fair
values of plan assets and net actuarial gains and losses in the year incurred,
generally in the fourth quarter of each year, which were previously deferred
and amortized over time into pension expense. While NCR's previous policy of
recognizing pension expense was considered acceptable under applicable
accounting guidance, NCR believes that these new policies are preferable as
they accelerate the recognition in its operating results of changes in the
fair value of plan assets and actuarial gains and losses. The results of prior
periods included in this release have been adjusted to reflect the change.

“The first quarter represented a solid start to 2013 and we are raising our
profitability outlook for the full year,” said Bill Nuti, Chairman and CEO of
NCR. “We are executing well across our lines of business, led by strong
momentum in our Retail Solutions and Hospitality segments. During the quarter,
we closed the acquisition of Retalix, strengthening our retail software and
services offerings. We continue to advance our leading global point-of-sale
solutions and new innovations, such as our NCR Silver™ tablet and mobile
solution for smaller retailers, and integrate mobile technologies across our
platforms. Additionally, software revenues continue to grow, evidenced by a
35% increase year-over-year. These factors, combined with our global
leadership in financial self-service and a focus on good business execution
and continued innovation, strengthen our ability to drive results and ensure
that our solutions are at the forefront of our customers' businesses.”

               First Quarter 2013 Operating Segment Results^(2)

                              Financial Services

NCR's Financial Services segment generated first quarter revenue of $714
million, an increase of 3% from the first quarter of 2012. The increase was
driven by growth in the Europe and Asia Middle East Africa (AMEA) theaters
offset by declines in the Americas theater. The first quarter year-over-year
revenue comparison was negatively impacted by 2 percentage points of foreign
currency translation.

Operating income for Financial Services was $57 million in the first quarter
of 2013 and 2012. Operating income remained consistent with the prior year as
higher revenues were offset by continued investment in research and
development and the services business.

                               Retail Solutions

The Company completed the acquisition of Retalix, Ltd. on February 6, 2013. As
a result, the revenue and operating income results for the Retail Solutions
segment include the impact of Retalix for the period from February 6, 2013
through March 31, 2013. Retalix revenue was $50 million in the first quarter
of 2013 and contributed $9 million to operating income in the quarter.

The Retail Solutions segment generated revenue of $489 million in the first
quarter of 2013, an increase of 41% from the first quarter of 2012. The
increase was driven by growth in the Americas, Europe and AMEA theaters. The
first quarter year-over-year revenue comparison was negatively impacted by 2
percentage points of foreign currency translation. Revenue growth was 27% in
the first quarter of 2013 excluding the impact of the Retalix business noted
above.

Operating income for Retail Solutions was $41 million in the first quarter of
2013 as compared to $2 million in the first quarter of 2012. The increase was
driven by increased revenues, a higher mix of software and the contribution of
the Retalix business noted above.

                                 Hospitality

The Hospitality segment generated revenue of $131 million in the first quarter
of 2013, an increase of 16% from the first quarter of 2012, on both an actual
and a constant currency basis. The increase was driven by growth in the
Americas theater.

Operating income for Hospitality was $21 million in the first quarter of 2013
compared to $19 million in the first quarter of 2012. The increase was driven
by a favorable mix of revenues slightly offset by investment in sales,
software as a service and research and development.

                             Emerging Industries

The Emerging Industries segment generated first quarter revenue of $76
million, a decrease of 15% from the first quarter of 2012, on both an actual
and a constant currency basis. The decrease was driven by declines in the
Americas and Europe theaters.

Operating income for Emerging Industries was $10 million in the first quarter
of 2013 as compared to $23 million in the first quarter of 2012. The decrease
in operating income was due to the decline in revenue.

                    First Quarter 2013 Business Highlights

                              Financial Services

In the Financial Services segment, NCR maintained its global leadership
position through the deployment of various advanced technologies and
solutions.

State Bank of India (SBI), India's largest bank, will deploy 600 NCR SelfServ™
32 Intelligent Cash Deposit ATMs across India in the country's largest single
order for cash deposit ATMs. By deploying NCR SelfServ™ intelligent deposit
ATMs, SBI will be able to offer customers an improved banking experience by
reducing long lines at its branch and granting customers the flexibility to
execute everyday cash deposit transactions beyond traditional banking hours.

During the first quarter, NCR announced the acquisition of uGenius Technology,
a pioneer in video-banking software. This acquisition is expected to further
aid the growth of the APTRA™ Interactive Teller solution and offers
opportunities for NCR to leverage other uGenius technologies to expand the
delivery of video banking to multi-channel solutions across its industry
verticals.

According to RBR's (Retail Banking Research) newly published research report
“Multivendor Software 2013”, NCR has maintained its leadership position as the
world's largest supplier of multivendor ATM middleware and applications. This
research is based on a study of 66 financial services organizations in 38
different countries, with deployments among them of more than 390,000 ATMs.

NCR also recently received a Rising Star award from CRM Magazine. NCR was
recognized for its ability to deliver innovative solutions that address the
changing nature of how businesses and customers interact and transact. The
magazine cited NCR's various technologies that provide mobile and
multi-channel transaction environments and its advanced solutions such as
APTRA™ Interactive Teller that greatly enhance the customer experience.

                               Retail Solutions

In Retail Solutions, NCR completed its acquisition of Retalix, a leading
global provider of innovative retail software and services. Retalix powers
billions of dollars in annual sales across its over 70,000 locations and
400,000 customer touch points globally. The addition of Retalix provides a
number of growth opportunities and is consistent with NCR's ongoing
transformation to a software and services-driven, hardware-enabled business
model.

NCR continued to advance NCR Silver™, its tablet and mobile-based
point-of-sale (POS) system for small businesses. Cellairis, the world's
largest franchised mobile device accessory company, will be deploying NCR
Silver at more than 600 of its franchise locations. NCR Silver will help
Cellairis franchise owners easily manage their businesses, market to customers
and sell both behind the counters and on the sales floors. In addition,
franchisees will be able to accept credit card payments using NCR Silver's
integrated credit card processing functionality that features secure,
end-to-end encryption. NCR also introduced a social media integration update
that allows business owners to easily engage in email marketing campaigns as
well as update their companies' Facebook pages with the same messages about
their business and products. The integrated social media marketing update
saves small business owners time, streamlines their marketing efforts and
empowers them to build customer loyalty and sales.

Additionally, NCR Silver joined forces with Elavon, a leading global payments
provider, expanding NCR's distribution network and extending easy, secure and
affordable POS solutions to small business customers. NCR Silver™ is now
available through Elavon's sales channels.

NCR also reached agreement to provide retail technology and services to the
Modell's Sporting Goods chain. Modell's will deploy 1,000 NCR RealPOS™ 82XRT
POS terminals across its 154 locations. NCR was selected to support Modell's
chain-wide strategy to enhance customer service and loyalty by offering a
faster check-out experience along with content and loyalty program promotions
and offers at the point of sale. NCR will also provide Modell's with services
and support over a multi-year period. NCR's services offerings help maximize
system up-time across the chain so that Modell's environment is optimized for
the experience their customers expect.

DSW Inc., a leading branded footwear and accessories retailer, agreed to
expand its use of NCR Advanced Store POS software to offer DSW shoppers mobile
POS functionality and returns through the chain. DSW employees will have the
ability to bring POS enabled tablets onto the store floor, enabling them to
better assist customers, personalize the shopping experience through immediate
access to loyalty program information, increase checkout capacity and agility
during peak selling periods and help drive overall improvements in customer
satisfaction.

Woodman's Food Markets launched NCR's Mobile Shopper at its location in
Madison, Wisconsin. By using Mobile Shopper, Woodman's customers can save time
and make shopping easier by using their own smartphones to scan items in the
aisles as they shop and then scan a QR code on their phones to transfer their
mobile shopping information to a self-checkout station to complete their
transaction. Following the deployment at its Madison location, Woodman's is
exploring deploying Mobile Shopper at its other 13 locations in Wisconsin and
Illinois.

NCR's services business continues to grow its global footprint. NCR recently
launched NCR Mobile POS Optimization Consulting Services to help retailers
devise and implement mobile POS strategies that address consumers' shifting
transaction preferences and improve results for businesses. The new consulting
services group was launched in an effort to share NCR's insights and best
practices in the rapidly growing area of mobile retail and is focused on
helping retailers deliver the most effective consumer experience.

                                 Hospitality

During the quarter, NCR announced a partnership with PayPal, Inc. spanning its
retail and hospitality verticals. The partnership will integrate NCR's
innovative mobile solutions for the hospitality and retail verticals with
PayPal's leading digital payment technology. The combination will provide
restaurants and retailers with an easy and powerful way to offer consumers a
rich mobile and digital payment experience. NCR's broad hospitality and retail
footprint and PayPal's more than 128 million customers presents an opportunity
to accelerate the adoption of mobile-enhanced consumer shopping and payments.

NCR also advanced its mobile commerce leadership through the introduction of
NCR Aloha Mobile, an innovative extension of the NCR Aloha Table Service POS
software. Aloha Mobile software allows restaurants to easily and securely
deploy mobile technology for tableside ordering and payment which can help
increase speed of service and order accuracy, improved customer satisfaction,
and sales and profit gains.

Also in Hospitality, Cheddar's Casual Café, a nationwide casual dining chain,
will be deploying NCR hardware and Aloha software at its existing and new
company restaurants during 2013. The company chose NCR because of its ability
to deliver a comprehensive, leading-edge enterprise restaurant technology as
well as professional services and learning management solutions. Cheddar's
will use NCR technology to improve its ability to track and direct labor,
streamline the on-boarding of new hires and improve its loss prevention
program, allowing staff to focus their time and efforts on enhancing the guest
experience.

PNC Arena in Raleigh, North Carolina deployed a turnkey NCR Vitalcast™ digital
signage solution encompassing 160 LCD displays and professional design
services. The deployment enables the venue to use NCR Vitalcast™ digital
signage and design services to offer high-quality advertising services to
regional businesses, accommodate more sponsors at events, and optimize
concession operations by displaying new menus that meet up-to-the-minute
customer tastes. PNC Arena opens its doors to over 1.5 million guests annually
for more than 150 events including concerts, family shows, Carolina Hurricanes
NHL hockey games, and NC State University men's basketball games.

                             Emerging Industries

In Emerging Industries, NCR continued advancing its self-service technologies
for the Travel industry including securing multiple deployments of its
TouchPort self-check-in kiosks. NCR will provide TouchPort kiosks to Ordos
Ejin Horo Airport in China's Inner Mongolia autonomous Region, through a
partnership with Beijing Sinonet Technology Co., Ltd. The kiosks will run on a
common use self-service (CUSS) platform, allowing passengers to use the kiosks
for self-check-in for flights on all the airlines that operate at the airport
and are a major component of Ordos Ejin Horo Airport's and Sinonet's efforts
to accommodate the rapid increase in passengers at the airport. NCR will also
provide maintenance services for the kiosks to ensure maximum availability.

NCR TouchPort kiosks have also been deployed in partnership with AviancaTaca,
a leading Latin American airline. AviancaTaca selected NCR TouchPort due to
NCR's leading technology and global reputation, specific features including a
passport reader, and TouchPort's ability to enhance the passenger experience
and alleviate passenger congestion at check-in areas.

During the quarter, NCR also demonstrated continued progress with its mobile
boarding pass technology. NCR achieved a company record in March as it
delivered over 3 million electronic boarding passes. NCR Mobile Pass delivers
a patented 2D bar code onto a mobile device, allowing passengers to check in
remotely and go directly to airport security checkpoints when they arrive at
the airport.

The recent deployments of NCR TouchPort kiosks and continued growth of NCR
Mobile Pass are consistent with the results of the 2013 NCR Traveler
Experience Survey which shows that travelers are increasingly looking to use
technology that makes their travel experiences easier and more convenient. The
research demonstrates this is particularly the case for everyday tasks like
checking bags, securing early boarding and finding and booking alternative
flights.

NCR was chosen to provide comprehensive networking and computing
infrastructure, next-generation web check-in, information kiosks and unified
telephony for the new Muscat International and Salalah Airports, currently
under development in Oman. NCR's technology solutions and services will help
ensure maximum reliability, efficiency and systems uptimes of the IT
infrastructure at the airports, making airport operations easier and helping
to create exceptional travel experiences for passengers travelling through the
terminals.

                   First Quarter 2013 Financial Highlights

Income from operations was $85 million in the first quarter of 2013, which
included $7 million of pension expense, $14 million of acquisition-related
amortization of intangibles, $16 million of acquisition-related costs, $6
million of acquisition-related purchase price adjustments and $1 million of
legal costs related to the previously disclosed OFAC and FCPA investigations.
This compares to $19 million of loss from operations in the first quarter of
2012, which included $107 million of pension expense, $9 million of
acquisition-related amortization of intangible assets, and $4 million of
acquisition-related costs. Excluding these items, non-GAAP income from
operations^(2) was $129 million in the first quarter of 2013 compared to $101
million in the first quarter of 2012. Additionally, the first quarter of 2013
included a $13 million benefit from a change in the severance policy in the
U.S.

Net cash provided by operating activities was $21 million during the first
quarter of 2013 compared to net cash provided by operating activities of $89
million in the year-ago period. Capital expenditures of $45 million in the
first quarter of 2013 increased from $31 million in the first quarter of 2012.
Free cash flow (net cash from operations and discontinued operations, less
capital expenditures for property, plant and equipment, and additions to
capitalized software)^(3) was a cash outflow of $23 million in the first
quarter of 2012, compared to a cash inflow of $49 million in the first quarter
of 2012. The decrease in net cash provided by operating activities and free
cash flow were primarily driven by changes in working capital.

Discontinued operations resulted in $1 million of cash inflow in the first
quarter of 2013 as compared to $9 million of cash outflow in the first quarter
of 2012. The change was driven by remediation and transaction costs offset by
reimbursement from indemnification parties in the Fox River matter.

NCR contributed approximately $20 million to its international and executive
qualified pension plans in the first quarter of 2013 compared to $18 million
in the first quarter of 2012. The net unfunded status of the Company's global
pension plans was $(468) million as of December 31, 2012.

Other expense, net was $19 million in the first quarter of 2013 compared to
other expense, net, of $11 million in the prior year period, mainly due to
higher interest expense in the current period.

Income tax expense was $2 million in the first quarter of 2013 compared to
income tax benefit of $21 million in the first quarter of 2012.

NCR ended the first quarter of 2013 with $483 million in cash and cash
equivalents compared to a balance of $1.07 billion as of December31, 2012,
due to the acquisition of Retalix. As of March31, 2013, NCR had a total debt
balance of $2.09 billion compared to a total debt balance of $1.96 billion as
of December31, 2012.

                                 2013 Outlook

NCR expects full-year 2013 revenues to increase in the range of 9% to 11% on a
constant currency basis^(4) compared with 2012.

NCR expects its full-year 2013 Income from Operations (GAAP) to be $546
million to $566 million, non-pension operating income (NPOI)^(2) to be in the
range of $700 million to $720 million, GAAP diluted earnings per share to be
$2.08 to $2.18 and non-GAAP diluted earnings per share^(2) to be in the range
of $2.70 to $2.80 per diluted share.  The 2013 NPOI and non-GAAP diluted EPS
guidance excludes the items set forth in the supplemental non-GAAP
reconciliation tables and accompanying footnotes that follow the "Note to
Investors" at the end of this earnings release. NCR expects approximately $95
million to $100 million of Other Expense, net including interest expense in
2013 and its full-year 2013 effective income tax rate to be approximately 26%.

For the second quarter of 2013, the Company expects non-pension operating
income (NPOI)^(2) to be in the range of $175 million to $180 million, compared
to $154 million in the second quarter of 2012 and income from operations to be
in the range of $126 million to $131 million, compared to $130 million in the
second quarter of 2012. NCR expects its second quarter 2013 tax rate to be
approximately 28% to 32% and Other Expense, net including interest expense to
be approximately $23 million to $25 million.

                              Current 2013   Prior 2013     2012
                                Guidance        Guidance        Actual
Year-over-year revenue growth  9% - 11%       9% - 11%       11%
(constant currency) ^(4)
Income from Operations (GAAP)  $546 - $566    $548 - $563    $644 million
*                               million         million
Non-pension operating          $700- $720     $695 - $710    $589 million
income^(2)                      million         million
Diluted earnings per share     $2.08 - $2.18  $2.06 - $2.16  $2.46
(GAAP)
Diluted earnings per share
excluding
pension expense and special    $2.70 - $2.80  $2.65 - $2.75  $2.49
items
(non-GAAP)^(2)
                                                            
                                                                             

* The change from prior guidance for Income from Operations is included in the
supplemental GAAP to non-GAAP reconciliation tables that follow the "Notes to
Investors" section of this earnings release.

                 2013 First Quarter Earnings Conference Call

A conference call is scheduled today at 4:30 p.m. (EST) to discuss the
company's 2013 first quarter results and guidance for full-year 2013, and to
announce the details of Phase III of its pension strategy. Access to the
conference call, as well as a replay of the call, is available on NCR's Web
site at http://investor.ncr.com/.

About NCR Corporation

NCR Corporation (NYSE: NCR) is the global leader in consumer transaction
technologies, turning everyday interactions with businesses into exceptional
experiences. With its software, hardware, and portfolio of services, NCR
enables more than 300 million transactions daily across the financial, retail,
hospitality, travel, telecom and technology industries. NCR solutions run the
everyday transactions that make your life easier.

NCR is headquartered in Duluth, Georgia with over 26,000 employees and does
business in 180 countries. NCR is a trademark of NCR Corporation in the United
States and other countries. NCR encourages investors to visit its web site
which is updated regularly with financial and other important information
about NCR.

Web site: www.ncr.com

Twitter: @NCRCorporation

Facebook: www.facebook.com/ncrcorp

LinkedIn: http://linkd.in/ncrgroup

YouTube: www.youtube.com/user/ncrcorporation

Note to Investors - This news release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements use words such as “seek,” “potential,” “expect,”
“strive,” “continue,” “continuously,” “accelerate,” “anticipate,” “outlook,”
“intend,” “plan,” “target,” “believe,” “estimate,” “forecast,” “pursue” and
other similar expressions or future or conditional verbs such as “will,”
“should,” “would” and “could”. They include statements as to NCR's anticipated
or expected results and financial performance, including its outlook for the
second quarter of 2013 and the 2013 fiscal year (including in the sections
entitled “2013 Business Highlights” and “2013 Outlook”) and its expectations
for revenue growth across its core verticals; projections of revenue, profit
growth and other financial items; discussion of strategic initiatives and
related actions; comments about future market or industry performance or
behaviors, including how NCR's products and services may be used and the
benefits they might create or provide; expected benefits related to the
acquisition of Retalix Ltd., including its effect on the strength of our
solutions portfolio; and beliefs, expectations, intentions, and strategies,
among other things. Forward-looking statements are based on management's
current beliefs, expectations and assumptions, and involve a number of known
and unknown risks and uncertainties, many of which are out of NCR's control.

Forward-looking statements are not guarantees of future performance, and there
are a number of factors, risks and uncertainties that could cause actual
outcomes and results to differ materially from the results contemplated by
such forward-looking statements. In addition to the factors discussed in this
release, these other factors, risks and uncertainties include those relating
to: domestic and global economic and credit conditions, including the ongoing
sovereign debt conditions in Europe and the uneven global economic recovery;
our indebtedness and the impact that it may have on our financial and
operating activities and our ability to incur additional debt; the financial
covenants in our senior secured credit facility and the indentures for our
outstanding senior unsecured notes and their impact on our financial and
business operations; the adequacy of our future cash flows to service our
indebtedness; the variable interest rates borne by our indebtedness under our
senior secured credit facility and the effects of changes in those rates; our
ability to raise funds necessary to finance a required change in control
purchase of our outstanding senior unsecured notes; the effect on our future
borrowing costs and access to capital of a lowering or withdrawal of the
ratings assigned to our debt securities; shifts in market demands, continued
competitive factors and pricing pressures; shorter product cycles, rapidly
changing technologies and maintaining a competitive leadership position with
respect to our solution offerings; manufacturing disruptions affecting product
quality or delivery times; the historical seasonality of our sales; the effect
of currency translation; our ability to achieve targeted cost reductions;
maintaining profitability of our professional services consulting engagements
and appropriate utilization rates for our consultants; market volatility and
the funded status of our pension plans; the success of our pension strategy,
including the recently announced "Phase III" of our pension strategy; tax
rates; our ability to sell higher-margin software and services in addition to
hardware; business and legal risks associated with multinational operations;
availability and successful exploitation of new acquisition and alliance
opportunities; expected benefits related to acquisitions and alliances not
materializing; the timely development, production or acquisition and market
acceptance of new and existing products and services; the ability of third
party suppliers on which we rely being able to fulfill our needs; our ability
to successfully develop and protect intellectual property that drives
innovation; our ability to execute our business and reengineering plans;
turnover of workforce and the ability to attract and retain skilled employees;
compliance with requirements relating to data privacy and protection;
continued efforts to establish and maintain best-in-class internal information
technology and control systems; exposure to post-closing liabilities resulting
from the sale of assets of our entertainment business; environmental exposures
from our historical and ongoing manufacturing activities; changes in GAAP and
the resulting impact, if any, on the Company's accounting policies;
uncertainties with regard to regulations, lawsuits, claims and other matters
across various jurisdictions; and other factors detailed from time to time in
the Company's U.S. Securities and Exchange Commission reports and the
Company's annual reports to stockholders. The company does not undertake any
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.

Reconciliation of Diluted Earnings Per Share (EPS) from Continuing Operations
(attributable to
NCR) (GAAP) to Non-GAAP Measures
                                                                 
                                                 Current      Prior
                      Q1 2013      Q1 2012       2013         2013         2012
                      Actual       Actual                                  Actual
                                                 Guidance     Guidance
Diluted EPS from
Continuing                                       $2.08 -      $2.06 -
Operations            $ 0.37       $ (0.06 )     $2.18        $2.16        $ 2.46
(attributable to
NCR) (GAAP)
Pension expense       0.02         0.46          0.12         0.07         (0.28  )
(benefit) *
Impairment charge
and related           —            0.01          —            —            0.05
valuation allowance
Acquisition-related   0.06         0.02          0.14         0.14         0.10
costs
Acquisition-related
amortization of       0.06         0.04          0.27         0.32         0.15
intangibles **
OFAC and FCPA         0.01         —             0.01         —            0.01
Investigations ***
Acquisition-related
purchase price        0.02        —            0.08        0.06        —      
adjustments **
Diluted EPS from
Continuing
Operations            $ 0.54      $ 0.47       $2.70 -      $2.65 -      $ 2.49 
(attributable to                                 $2.80        $2.75
NCR) (non-GAAP) ^
(2)
                                                                                  
                                                                                  

Reconciliation of Income from Operations (GAAP) to Non-GAAP Measure (in millions)
                                                                                   
                      Q1 2013     Q1 2012     Current      Prior        2012        Q2 2013      Q2
                      Actual      Actual      2013         2013         Actual      Guidance     2012
                                              Guidance     Guidance                              Actual
Income from           $ 85        $ (19 )     $546 -       $548 -       $ 644       $126 -       $  130
Operations (GAAP)                             $566         $563                     $131
Pension expense       7           107         35           20           (120  )     16           10
(benefit) *
Acquisition-related   16          4           35           35           23          11           4
costs
Acquisition-related
amortization of       14          9           65           77           38          16           10
intangibles **
Acquisition-related
purchase price        6           —           18           15           —           6            —
adjustments **
OFAC and FCPA         1          —          1           —           4          —           —
Investigations ***
Non-pension                                   $700 -       $695 -                   $175 -
Operating Income      $ 129      $ 101      $720         $710         $ 589      $180         $  154
(non-GAAP) ^ (2)
                                                                                                    
                                                                                                    

* Current 2013 guidance updated from prior 2013 guidance to reflect the impact
of the termination of the executive pension plans and the special termination
benefits offered to certain US employees.

** Current 2013 guidance updated from prior 2013 guidance for adjustments to
the estimate of full-year acquisition-related amortization of intangibles and
purchase price adjustment relating to the Retalix acquisition.

*** At this time we are not anticipating material additional costs, but there
can be no assurance that the Company will not be subject to fines or other
costs.

Free Cash Flow
                                                                
                                                For the Periods Ended March 31
                                                Three Months
                                                2013                 2012
Net cash (used in) provided by operating        $   21               $  89
activities (GAAP)
Less capital expenditures for:
Property, plant and equipment                   (24       )          (13    )
Capitalized software                            (21       )          (18    )
Total capital expenditures, net                 (45       )          (31    )
Net cash provided by (used in) discontinued     1                   (9     )
operations
Free cash (used) flow (non-GAAP)^(3)            $   (23   )          $  49  
                                                                            
                                                                            

Constant Currency
                                                   
                                                     2012
                                                     Actual
Revenue growth % (GAAP)                              8   %
Unfavorable foreign currency fluctuation impact      3   %
Constant currency revenue growth % (non-GAAP) ^(4)   11  %
                                                         
                                                         

(1) While NCR reports its results in accordance with Generally Accepted
Accounting Principles in the United States, or GAAP, it believes that certain
non-GAAP measures provide additional useful information regarding NCR's
financial results. NCR's management evaluates the company's results excluding
certain items, such as pension expense and the effect of foreign currency
translation, to assess the financial performance of the company and believes
this information is useful for investors because it provides a more complete
understanding of NCR's underlying operational performance, as well as
consistency and comparability with NCR's past reports of financial results. In
addition, management uses certain of these measures to manage and determine
effectiveness of its business managers and as a basis for incentive
compensation. NCR management's calculation of these non-GAAP measures may
differ from similarly-titled measures reported by other companies and cannot,
therefore, be compared with similarly-titled measures of other companies.
These non-GAAP measures should not be considered as substitutes for, or
superior to, results determined in accordance with GAAP.

(2) The segment results included in this release and Schedule B hereto and the
non-GAAP income from operations (i.e. non-pension operating income) and
non-GAAP earnings per share discussed in this earnings release exclude the
impact of pension expense and certain special items. Due to the significant
change in its pension expense from year to year and the non-operational nature
of pension expense and these special items, including amortization of
acquisition related intangibles, NCR's management uses non-pension operating
income and non-GAAP earnings per share to evaluate year-over-year operating
performance. NCR may, in addition, segregate special items from its GAAP
results from time to time to reflect the ongoing earnings per share
performance of the company. NCR also uses non-pension operating income and
non-GAAP earnings per share to manage and determine the effectiveness of its
business managers and as a basis for incentive compensation. NCR determines
non-pension operating income based on its GAAP income (loss) from operations
excluding pension expense and special items. These non-GAAP measures should
not be considered as substitutes for, or superior to, results determined in
accordance with GAAP.

(3) Free cash flow does not have a uniform definition under GAAP and,
therefore, NCR's definition may differ from other companies' definitions of
this measure. NCR defines free cash flow as net cash provided by/used in
operating activities and cash flow provided by/used in discontinued operations
less capital expenditures for property, plant and equipment, and additions to
capitalized software. NCR's management uses free cash flow to assess the
financial performance of the company and believes it is useful for investors
because it relates the operating cash flow of the company to the capital that
is spent to continue and improve business operations. In particular, free cash
flow indicates the amount of cash generated after capital expenditures which
can be used for, among other things, investment in the company's existing
businesses, strategic acquisitions, strengthening the company's balance sheet,
repurchase of company stock and repayment of the company's debt obligations.
Free cash flow does not represent the residual cash flow available for
discretionary expenditures since there may be other nondiscretionary
expenditures that are not deducted from the measure. This non-GAAP measure
should not be considered a substitute for, or superior to, cash flows from
operating activities determined in accordance with GAAP.

(4) NCR's results with respect to year-over-year revenue growth on a constant
currency basis exclude the effects of foreign currency translation. Due to the
variability of foreign exchange rates from year to year, NCR's management uses
revenue on a constant currency basis to evaluate year-over-year operating
performance. Revenue growth on a constant currency basis is calculated by
translating prior-year revenue at current year monthly average exchange rates.
Similarly, NCR's guidance with respect to year-over-year revenue growth on a
constant currency basis excludes the potential effects of foreign currency
translation due to the variability and unpredictability of future exchange
rates.

Schedule A
NCR CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)(in millions, except per share amounts)
                                                              
                                                For the Periods Ended March 31
                                                Three Months
                                                2013              2012
Revenue
Products                                        $  667            $  570
Services                                        743              674       
Total Revenue                                   1,410             1,244
Cost of products                                503               449
Cost of services                                538              543       
Total gross margin                              369               252
% of Revenue                                    26.2     %        20.3      %
Selling, general and administrative expenses    229               218
Research and development expenses               55               53        
Income (loss) from operations                   85                (19       )
% of Revenue                                    6.0      %        (1.5      )%
Interest expense                                (21      )        (9        )
Other (expense) income, net                     2                (2        )
Total other (expense) income, net               (19      )        (11       )
Income (loss) before income taxes and           66                (30       )
discontinued operations
% of Revenue                                    4.7      %        (2.4      )%
Income tax expense (benefit)                    2                (21       )
Income (loss) from continuing operations        64                (9        )
Loss from discontinued operations, net of tax   (1       )        (9        )
Net Income (loss)                               63                (18       )
Net income attributable to noncontrolling       2                1         
interests
Net income (loss) attributable to NCR           $  61            $  (19    )
Amounts attributable to NCR common
stockholders:
Income (loss) from continuing operations        $  62             $  (10    )
Loss from discontinued operations, net of tax   (1       )        (9        )
Net income (loss)                               $  61            $  (19    )
Net income (loss) per share attributable to NCR
common stockholders:
Net income (loss) per common share from
continuing operations
Basic                                           $  0.38          $  (0.06  )
Diluted                                         $  0.37          $  (0.06  )
Net income (loss) per common share
Basic                                           $  0.37          $  (0.12  )
Diluted                                         $  0.36          $  (0.12  )
Weighted average common shares outstanding
Basic                                           163.7             158.2
Diluted                                         167.5             158.2
                                                                            
                                                                            

Schedule B

NCR CORPORATION
CONSOLIDATED REVENUE AND OPERATING INCOME SUMMARY
(Unaudited)
(in millions)
                                                                  
                                                                  
                                  For the Periods Ended March 31  
                                  Three Months                    
                                  2013        2012        %
                                                              Change
Revenue by segment
Financial Services                $ 714         $ 695         3   %
Retail Solutions                  489           347           41  %
Hospitality                       131           113           16  %
Emerging Industries               76           89           (15 )%
Total Revenue                     $ 1,410      $ 1,244      13  %
Operating income by segment
Financial Services                $ 57          $ 57
% of Revenue                      8.0     %     8.2     %
Retail Solutions                  41            2
% of Revenue                      8.4     %     0.6     %
Hospitality                       21            19
% of Revenue                      16.0    %     16.8    %
Emerging Industries               10            23
% of Revenue                      13.2    %     25.8    %
Subtotal-segment operating income $ 129        $ 101   
% of Revenue                      9.1     %     8.1     %
Pension Expense                   7             107
Other adjustments (1)             37           13      
Total income from operations      $ 85         $ (19   )
                                                              
                                                              

(1) Other adjustments for the three months ended March 31, 2013 include $16
million of acquisition related costs, $14 million of acquisition related
amortization of intangible assets, $6 million of acquisition related purchase
price adjustments and $1 million of legal costs related to the previously
disclosed OFAC and FCPA investigations and for the three months ended March
31, 2012 include $4 million of acquisition related costs and $9 million of
acquisition related amortization of intangible assets.

Schedule C

NCR CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in millions, except per share amounts)
                                                               
                                                                  
                                                    March 31,     December 31,
                                                    2013          2012
Assets
Current assets
Cash and cash equivalents                           $ 483         $  1,069
Accounts receivable, net                            1,193         1,086
Inventories, net                                    847           797
Other current assets                                490          454       
Total current assets                                3,013        3,406     
Property, plant and equipment, net                  327           308
Goodwill                                            1,453         1,003
Intangibles                                         502           304
Prepaid pension cost                                372           368
Deferred income taxes                               538           534
Other assets                                        450          448       
Total assets                                        $ 6,655      $  6,371  
Liabilities and stockholders’ equity
Current liabilities
Short-term borrowings                               $ 77          $  72
Accounts payable                                    593           611
Payroll and benefits liabilities                    193           197
Deferred service revenue and customer deposits      558           455
Other current liabilities                           416          407       
Total current liabilities                           1,837        1,742     
Long-term debt                                      2,014         1,891
Pension and indemnity plan liabilities              814           812
Postretirement and postemployment benefits          194           246
liabilities
Income tax accruals                                 140           138
Environmental liabilities                           146           171
Other liabilities                                   119          79        
Total liabilities                                   5,264        5,079     
Redeemable noncontrolling interests                 17            15
Stockholders' equity
NCR stockholders' equity:
Preferred stock: par value $0.01 per share, 100.0
shares
authorized, no shares issued and outstanding as of  —             —
March 31,
2013 and December 31, 2012, respectively
Common stock: par value $0.01 per share, 500.0
shares
authorized, 164.3 and 162.8 shares issued and       2             2
outstanding as of
March 31, 2013 and December 31, 2012 respectively
Paid-in capital                                     381           358
Retained earnings                                   1,145         1,084
Accumulated other comprehensive loss                (192    )     (197      )
Total NCR stockholders' equity                      1,336         1,247
Noncontrolling interests in subsidiaries            38           30        
Total stockholders' equity                          1,374        1,277     
Total liabilities and stockholders' equity          $ 6,655      $  6,371  
                                                                            
                                                                            

Schedule D
                                                                             
NCR CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(in millions)
                                                                             
                                              For the Periods Ended March 31 
                                              Three Months                   
                                              2013                2012
Operating activities
Net income (loss)                             $   63                $   (18  )
Adjustments to reconcile net income (loss) to
net cash provided by operating activities:
Loss from discontinued operations             1                     9
Depreciation and amortization                 47                    41
Stock-based compensation expense              10                    11
Excess tax benefit from stock-based           —                     —
compensation
Deferred income taxes                         (9        )           (14      )
Gain on sale of property, plant and equipment (4        )           (1       )
and other assets
Impairment of long-lived and other assets     —                     3
Changes in assets and liabilities:
Receivables                                   9                     (33      )
Inventories                                   (47       )           (34      )
Current payables and accrued expenses         (36       )           (17      )
Deferred service revenue and customer         73                    85
deposits
Pension and indemnity plan                    (34       )           84
Other assets and liabilities                  (52       )           (27      )
Net cash provided by operating activities     21                   89       
Investing activities
Expenditures for property, plant and          (24       )           (13      )
equipment
Additions to capitalized software             (21       )           (18      )
Business acquisition, net                     (681      )           —
Other investing activities, net               5                    (2       )
Net cash used in investing activities         (721      )           (33      )
Financing activities
Tax withholding payments on behalf of         (25       )           (9       )
employees
Short term borrowings, net                    1                     —
Payments on term credit facility              (18       )           —
Payments on revolving credit facility         (405      )           (65      )
Borrowings on revolving credit facility       550                   40
Debt issuance costs                           (2        )           —
Proceeds from employee stock plans            18                   7        
Net cash provided by (used in) financing      119                  (27      )
activities
Cash flows from discontinued operations
Net cash provided by (used in) operating      1                     (9       )
activities
Net cash used in investing activities         —                    (1       )
Net cash provided by (used in) discontinued   1                     (10      )
operations
Effect of exchange rate changes on cash and   (6        )           (3       )
cash equivalents
(Decrease) increase in cash and cash          (586      )           16
equivalents
Cash and cash equivalents at beginning of     1,069                398      
period
Cash and cash equivalents at end of period    $   483              $   414  
                                                                             
                                                                             

Schedule E
                                                                                             
NCR CORPORATION
STATEMENTS OF OPERATIONS (Adjusted for change in accounting)                                 
(Unaudited)
(in millions, except per share amounts)                                                      

                                                                                            
                                                                              
               For the quarter ended                         For the year ended              
               March 31,   June 30,   September   December   December    December    December
               2012       2012      30,        31,        31,        31,        31,
                                      2012        2012       2010        2011        2012
Revenue
Products       $ 570       $ 706      $  712      $ 866      $ 2,301     $ 2,592     $ 2,854
Services       674       703      723       776       2,410     2,699     2,876   
Total Revenue  1,244     1,409    1,435     1,642     4,711     5,291     5,730   
Cost of        449         532        534         634        1,789       2,019       2,149
products
Cost of        543         503        519         438        1,845       2,257       2,003
services
Selling,
general and    218         195        206         153        636         864         772
administrative
expenses
Research and
development    53        49       47        13        143       202       162     
expenses
Total
operating      1,263     1,279    1,306     1,238     4,413     5,342     5,086   
expenses
(Loss) income
from           (19     )   130        129         404        298         (51     )   644
operations
Interest       (9      )   (8     )   (7      )   (18    )   (2      )   (13     )   (42     )
expense
Other
(expense)      (2      )  (5     )  —         (1     )   (11     )  (3      )  (8      )
income, net
(Loss) income
before income
taxes and      (30     )   117        122         385        285         (67     )   594
discontinued
operations
Income tax
(benefit)      (21     )  29       35        148       5         (36     )  191     
expense
(Loss) income
from           (9      )   88         87          237        280         (31     )   403
continuing
operations
(Loss) income
from
discontinued   (9      )  13       (1      )  3         (10     )  (93     )  6       
operations,
net of tax
Net (loss)     (18     )   101        86          240        270         (124    )   409
income
Net income
(loss)
attributable   1         —        1         (2     )   3         (1      )  —       
to
noncontrolling
interests
Net (loss)
income         $ (19   )  $ 101    $  85     $ 242     $ 267     $ (123  )  $ 409   
attributable
to NCR
Amounts
attributable
to NCR common
stockholders:
(Loss) income
from           $ (10   )   $ 88       $  86       $ 239      $ 277       $ (30   )   $ 403
continuing
operations
(Loss) income
from
discontinued   (9      )  13       (1      )  3         (10     )  (93     )  6       
operations,
net of tax
Net (loss)     $ (19   )  $ 101    $  85     $ 242     $ 267     $ (123  )  $ 409   
income
Net (loss)
income per
share
attributable
to NCR common
stockholders:
Net (loss)
income per
common share
from
continuing
operations
Basic          $ (0.06 )   $ 0.55     $  0.54     $ 1.49     $ 1.73      $ (0.19 )   $ 2.53
Diluted        $ (0.06 )   $ 0.54     $  0.52     $ 1.45     $ 1.72      $ (0.19 )   $ 2.46
Net (loss)
income per
common share
Basic          $ (0.12 )   $ 0.64     $  0.53     $ 1.51     $ 1.67      $ (0.78 )   $ 2.57
Diluted        $ (0.12 )   $ 0.62     $  0.52     $ 1.47     $ 1.66      $ (0.78 )   $ 2.50
Weighted
average common
shares
outstanding
Basic          158.2       159.0      159.6       160.4      159.8       158.0       159.3
Diluted        158.2       163.9      164.8       164.4      161.2       158.0       163.8

Contact:

News Media Contact
NCR Corporation
Lou Casale, 212-589-8415
lou.casale@ncr.com
or
Investor Contact
NCR Corporation
Tracy Krumme, 212-589-8569
tracy.krumme@ncr.com