NORTH CANTON, Ohio – ATM and voting machine maker Diebold Inc. yesterday said its second quarter earnings dropped 5% to $25.6 million, or 38 cents a share, due to manufacturing and supply chain restructuring charges and work force reduction costs.
That compares with a profit of $26.9 million, or 40 cents per share, for the second quarter of 2007. Second quarter earnings were hit by restructuring charges related to the closure and sale of a plant in Cassis, France, as well as severance and restructuring costs.
Diebold said it is aiming to complete a three-year, $100 million cost-cutting plan by year-end. It will close a manufacturing facility in the Newark, Ohio, area that employs about 100 workers. The plant produces physical security equipment. Production will be moved to a Diebold plant in Lexington, North Carolina.
Second quarter revenues were up 11% to $771 million, from $694.6 million for the same period last year. Revenue for the first six months of the year was up 9% to $1.5 billion.
