NORTH CANTON, Ohio – ATM maker Diebold Inc. said yesterday that net income for its second quarter rose 11% to $31.7 million, even as revenues were declining by 9%.
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The improved profitability was due to the company’s two-year-old restructuring, which cut second quarter expenses by 12%, to $128.4 million.
But revenues continued to slump, falling to $700.5 million, from $768.7 million for the second quarter last year, and to $1.36 billion for the first six months of the year, from $1.46 billion for the same period last year, a drop of 7%.
As a result, net income for the first six months is still down by 19%, to $35.5 million.
