Diebold Continues ToStruggle
NORTH CANTON, Ohio. - (04/26/06) Restructuring costs continuedto plague Diebold, with the leading ATM manufacturer announcingTuesday a 54% decline in first quarter earnings to $12.7 million or18 cents a share, from the first quarter last year. The companysaid restructuring charges cost roughly four cents a share in thefirst quarter, and announced it is shutting its Cassis, Francemanufacturing plant and opening a plant in Budapest, Hungary.Charges for that restructuring are expected to be as much as $30million. First quarter revenues, bolstered by the companysexpanding elections systems operations, rose 17% to $623.7 million.Revenues for elections systems rose from $5.9 million to $30.4million for the first quarter. Revenues for the rest of thecompanys operations were flat for the period.