First-quarter revenue slipped at Diebold Inc., but executives said the company is booking more orders for intelligent-deposit automated teller machines from regional and community banks.
Diebold reported net income of $23.9 million, up 139% year over year. Revenue fell 5.8%, to $618.9 million.
Bradley C. Richardson, Diebold's chief financial officer and executive vice president, attributed the revenue decline to currency valuations and fewer ATM sales, as Bank of America Corp. and JPMorgan Chase & Co., the nation's two largest bank owners of ATMs, completed their deployment of intelligent-deposit ATMs.
The completion of those rollouts helped drive down North American revenue by 17% and ATM orders by 9%, Thomas W. Swidarski, Diebold's president and chief executive, said Tuesday during a conference call with analysts.
"The completion of large deposit-automation deployments by major national banks created a very challenging comparison," Swidarski said.
That decline could be offset this year by increased interest in intelligent-deposit ATMs from banks ranked fourth to 20th by assets, he said.
"We have actively engaged in several rollouts that began as pilots involving 50 to 75 units," he said. "When you are piloting 75 or over 100 ATMs, you are now feeling that it is the beginning of a rollout."