Posted on April - 25 - 2010
Diebold Inc. reports higher first-quarter earnings
Diebold Inc. (NYSE: DBD) has reported a big increase in first-quarter earnings compared to the like period last year, when it took a reserve related to an agreement in principle with the staff of the Securities and Exchange Commission over a protracted accounting matter.
The maker of automated teller machines and bank security equipment said net income attributable to shareholders climbed to $23.9 million, or 36 cents a share, from $1.6 million, or two cents a share, in the first quarter of 2009. The year-earlier results include the $25 million reserve.
Revenue at Diebold was down 6%, to $619 million from $657.3 million. The company said the decline reflects completion of large deposit automation deployments by major U.S. banks in 2009.
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