Diebold (DBD) reported a first-quarter profit of $45.2 million, compared with earnings of $2.5 million a year earlier, due to growth in its North America and Asia-Pacific businesses.
A year ago, the North Canton, Ohio, ATM maker's income suffered from what it called "a slow start," with "heavy losses" in Europe due to bad investments. This year, its revenue from Europe, the Middle East and Africa fell 9%, to $64.7 million, from a year earlier. Its Latin America revenue dropped 10%, to $137.7 million.
Diebold said Wednesday that its total revenue rose almost 14%, to $698.5 million, year over year. Revenue in its North America segment rose almost 31%, to $399.9 million, as demand for deposit automation and integrated services continued to grow. The Asia-Pacific business' revenue climbed more than 14%, to $96.2 million, from a year earlier.
Diebold's results this year were also boosted by ATM installations related to the March deadline for U.S. financial institutions to meet requirements for the Americans with Disabilities Act, Thomas W. Swidarski, president and chief executive of Diebold, said in a news release.
Within its financial self-service segment, Diebold's revenue totaled $561 million, up 21% from a year earlier. Revenue for its security solutions business fell almost 6%, to $134.9 million.