Diebold Continues Financial Restructuring

NORTH CANTON, Ohio – ATM maker Diebold Inc. reported yesterday it expects to take another charge this quarter of as much as $22 million related to its ongoing restructuring for the closure of a manufacturing plant in Cassis, France. The company said it fought through restructuring and impairment charges in the fourth quarter to more than double earnings to $27.1 million, or 41 cents a share. Still, restructuring charges of about $28 million last year and an impairment charge of $22.5 million related to the implementation of an enterprise resource planning system pushed down fiscal year earnings by 11% to $86.6 million, or $1.29 a share. Revenues for the fourth quarter grew by almost 2% to $825.4 million, and by a strong 12% to $2.2 billion for the full year.