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NORTH CANTON, Ohio – ATM maker Diebold said yesterday that third quarter profits surged 65% due to a healthy increase in revenues and it’s ongoing cost-cutting.
Diebold reported third quarter net income of $46.5 million, or 70 cents a share, up from $28.1 million, or 28 cents a share, for the same period last year. Revenue for the third quarter rose 20% to $890.3 million.
For the first three quarters of the year, Diebold reported a 13% rise in revenues, to $2.4 billion, and a 76% surge in net income to $89.5 million, or $1.32 a share.
Diebold CEO Thomas Swidarski cited new sales in China as a positive sign for the future, but issued a warning about growth elsewhere because of the worldwide banking crisis.
