NCR Corp., a maker of computer systems for banks and retail stores, warned that second-quarter earnings and revenue will be lower than expected because customers deferred buying NCR software for managing huge databases.
The stock fell $6.07, or 14%, to close at $38.70 on the New York Stock Exchange.
Dayton, Ohio-based NCR said earnings will be 35 cents to 37 cents a share, compared with the 57-cent consensus estimate of analysts polled by First Call/Thomson Financial. Revenue will be about $1.5 billion, the company said, citing slack sales in the key software business, called data warehousing.
NCR said in April that the data warehousing business had the potential to become the company's most profitable business.