IMGCAP(1)]
Diebold Inc. says it is now current with key U.S. Securities and Exchange Commission filings and will resume normal reporting in the third quarter. The North Canton, Ohio-based ATM manufacturer yesterday filed its 10-K form with the SEC for 2007, quarterly reports on Form 10-Q for the quarters ended June 30, 2007; Sept. 30, 2007; March 31 of this year; and June 30 of this year. Sales for 2007 totaled $2.97 billion, up 1% from $2.94 billion a year earlier. Net income last year was $590,000, down 61.9% from $1.55 million in 2006. In becoming current, Diebold raised its full-year 2008 guidance to $1.52 to $1.62 per share from its previous guidance of $1.37 to $1.47 per share. Diebold had not reported its financials for a year because of a U.S. Department of Justice and SEC inquiry into the company's use of a revenue-recognition method called "bill and hold." Using that method, Diebold recorded revenue before customers received their merchandise. Diebold has since dropped that accounting method and now posts revenue after customers receive the merchandise.
