Diebold Breaks Back Into The Black
NORTH CANTON, Ohio – Aided by a surge in third quarter revenues, ATM maker Diebold moved from the red to the black for the quarter to the tune of $47.5 million.
The third quarter results, which compare to a $6.4 million loss for last year’s third quarter, were fueled by a 16% rise in revenues to $745.6 million.
The third quarter earnings helped Diebold report a tripling of net income for the first nine months of its fiscal year to $102.1 million.
Revenues for the first three quarter were almost flat, rising less than 1% to $2 billion.
Diebold said total product and services orders for financial self-service and security were up 13%, while financial self-service orders increased 12%, driven by increased replacement activity in North America and a strong comparison to the prior-year period in Europe, Middle East and Africa. Security orders increased 13% overall, led by year-over-year increases in non-financial markets.
Orders in Latin America and Brazil increased 9%, driven by gains in financial self-service. In North America, total orders increased 9% compared with the same period in the prior year.