Diebold Inc., which is revising its earnings statements from 2003 through 2006 and has not filed its earnings for last year, is facing delisting from the New York Stock Exchange.
The North Canton, Ohio, automated teller machine maker said in a filing with the Securities and Exchange Commission last week, that it was notified this month that it must file its 2007 report within six months of the due date, which was not specified, or the company's shares could be delisted from the exchange.
When the six-month period is up, the exchange might decide to grant another six-month extension, Diebold said.
The company has been conducting an audit of its use of "bill and hold" accounting, in which it recognizes revenue for orders before the products are delivered. Diebold has said that it would abandon the accounting practice.
