Diebold Inc. said Monday that it swung to a fourth quarter loss of $118.8 million, down from a profit of $3.2 million a year earlier.
Processing Content
The North Canton, Ohio automated teller machine maker said that its revenue increased 9% to about $791 million in the same period.
It attributed its loss to $1.2 million in restructuring charges net of tax and $167.5 million in net non-routine and impairment charges related to its Europe, Middle East and Africa business.
Thomas Swidarski, the company's chief executive, said in a press release that Diebold is currently facing challenges in Europe, which "has never been a large market for the company, [but] it is strategically important as we consider the global nature of our customer base."
