Diebold revises 2012 outlook as sales slow
16 October 2012 | 1664 views | 0
Diebold, Incorporated (DBD) today announced preliminary 2012 third quarter revenue of approximately $710 million and earnings of $.27 per share, or $.39 on a non-GAAP* basis.
These results are preliminary in nature and subject to standard quarterly financial reporting procedures. In addition, the company has lowered its full-year outlook for revenue and earnings per share. For 2012, Diebold now expects total revenue growth of approximately 6 percent and full-year non-GAAP earnings of $2.25 to $2.30. This compares with previous revenue guidance of 6 to 8 percent growth, and non-GAAP earnings of $2.50 to $2.60 per share. The company does not provide quarterly revenue or earnings guidance.
"We're disappointed in our revised outlook, as the business mix from regional to national accounts in North America continued to accelerate at a faster rate than we anticipated," said Thomas W. Swidarski, Diebold president and chief executive officer. "In addition, we have also experienced customer delays related to our financial self-service business in Brazil, which will have an adverse effect on our full-year results.
"Despite these mix shift and timing issues, the fundamentals of the global markets in which we operate, while cyclical, remain sound," Swidarski continued. "To improve our near-term performance, we are taking steps to further reduce costs and better align our operations with the opportunities that exist in the markets we serve. We are committed to improving our operational performance, and will provide more details during our third quarter earnings conference call."