12 February 2016

Diebold moves into the red on Emea restructuring charge

25 April 2007  |  4491 views  |  0 Diebold

Financial self-services vendor Diebold has recorded a Q1 net loss of $5.9 million after taking a $.32 earnings per share restructuring charge over the closure of a manufacturing plant in Fance.

The shuttering of the French plant was first announced by the vendor back in April last year, but has been held up by legal wrangles with labour unions. The US firm says it finalised an agreement with the union at the end of last month and switched Emea production to a new facility in Hungary.

The company says it is on target to produce approximately 10,000 ATMs in Hungary in 2007.

The net loss of $5.9 million compares to net income of $12.7 million in the year ago period. First quarter revenue was up 0.8% to $628.4 million. The company performed well in sales to financial services firms, up 6.1% across self-service and security, but suffered from problems in its electoral voting business.

Shares in the firm moved down by 1.3% to $48.68 as investors expressed disappointment at management's failure to reach a decision on the possible sale of its electoral unit.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

30 January, 2007
15 September, 2006
07 September, 2006
08 August, 2006
25 July, 2006
21 June, 2006
24 May, 2006
17 May, 2006
25 April, 2006
20 March, 2006
28 February, 2006
07 February, 2006
05 January, 2006
15 December, 2005
13 December, 2005

Related company news


Top topics

Most viewed Most shared
UK sets out open banking API framework
13942 views comments | 96 tweets | 87 linkedin
European mobile banking service Pocopay go...
8007 views comments | 25 tweets | 14 linkedin
Deutsche Bank calls for co-operation with...
7369 views comments | 27 tweets | 30 linkedin
How to accelerate your fintech startup
7174 views comments | 33 tweets | 9 linkedin
Wearable payments startup Fit Pay secures...
6518 views comments | 26 tweets | 9 linkedin

Featured job

Brussels (Belgium) or Paris (France)

Find your next job