Wincor Nixdorf AG today reported a net profit of US$872.9 million (582 million euros) for the fiscal year ended Sept. 30, down 8.5% from $953.9 million during the previous fiscal year. The Paderborn, Germany-based maker of ATMs and point-of-sale equipment reported net sales of 2.25 billion euros, down 3% compared with 2.32 billion euros. Executives at the ATM maker blame the recession for the overall drop in revenue and profit. "Against the backdrop of a severe economic crisis, Wincor Nixdorf emerged from the fiscal year just ended with a moderate fall in sales, although profit contracted at a more pronounced rate," the company said in a statement. The ATM maker reported a 9.6% decline in sales of hardware, which includes ATMs and POS equipment, to 1.22 billion euros from 1.35 billion euros. Revenue from software and services rose 4.8% to 1.02 billion euros, compared with 973 million euros in 2008. Regionally, in the Americas, which includes the United States, sales were up 7%, to 200 million euros from 187 million euros. Gil Luria, an analyst with Los Angeles-based Wedbush Securities, says agreements to sell ATMs to JPMorgan Chase & Co. and Wells Fargo & Co. enabled the company to expand its market share in the U.S. In Germany, sales rose 6.6%, to 627 million euros from 588 million euros. In Europe, excluding Germany, sales were down 13%, to 1.06 billion euros from 1.22 billion euros. Sales in the Asia/Pacific/Africa region were up 9.1%, to 359 million euros from 329 million euros. Wincor Nixdorf AG owns Austin, Texas-based Wincor Nixdorf USA. Paderborn, Germany-based Wincor Nixdorf is the world's second largest ATM manufacturer based on annual shipments.