Diebold Slides into the Red

NORTH CANTON, Ohio – ATM maker Diebold Inc. said yesterday that costs to close down its France manufacturing plant pushed it into the red for the first quarter, to the tune of $5.9 million, or nine cents a share. That compares to net income of $12.7 million, or 18 cents a share, for the first quarter last year. First quarter restructuring charges included $21 million to close down the company’s plant on Cassis, France and move the production to a new plant in Budapest. First quarter revenues were almost flat, an 0.8% increase, to $628.4 million. Diebold said the new Budapest plant has manufactured 1,700 Opteva ATMs and is expected to manufacture as many as 10,000 for the year. The company is still reviewing the long-term prospects of its troubled voting machine operations.