23 October 2017
visit www.avoka.com

SEC probes Diebold

08 August 2006  |  6713 views  |  0 Diebold

US ATM manufacturer Diebold says the US Securities and Exchange Commission (SEC) has launched a formal investigation into how the company recognises its revenue.

Diebold said in May that the SEC was conducting an informal inquiry relating to its revenue recognition policy.

But in its quarterly report, the vendor says the SEC has converted the probe from an informal inquiry to a "formal non-public investigation".

Diebold says it is continuing to cooperate with the SEC.

The vendor has been struggling over the last two years against falling financial services revenue in North America and Europe and has incurred restructuring charges to cut costs and improve its profitability. Last month Diebold reported a 46% drop in second quarter profits after earnings were hit by these restructuring charges.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

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

Related stories

Diebold's Q2 profit falls 46%

Diebold's Q2 profit falls 46%

25 July 2006  |  4795 views  |  0 comments
Diebold terminates IT outsourcing deal

Diebold terminates IT outsourcing deal

17 May 2006  |  6586 views  |  0 comments
Diebold's Q1 profit plummets; to shut French ATM facility

Diebold's Q1 profit plummets; to shut French ATM facility

25 April 2006  |  4968 views  |  0 comments
Diebold overhauls IT function

Diebold overhauls IT function

07 February 2006  |  7482 views  |  0 comments
Diebold CEO O'Dell resigns

Diebold CEO O'Dell resigns

13 December 2005  |  5686 views  |  0 comments
Diebold fires COO; cuts earning forecast

Diebold fires COO; cuts earning forecast

21 September 2005  |  6575 views  |  0 comments
Diebold buys Tata Infotech's Indian ATM facility

Diebold buys Tata Infotech's Indian ATM facility

15 July 2005  |  9241 views  |  0 comments
Diebold axes 300 jobs; cuts profit forecast

Diebold axes 300 jobs; cuts profit forecast

30 June 2005  |  5440 views  |  0 comments
Diebold to close US ATM plant

Diebold to close US ATM plant

10 June 2005  |  6347 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comRegister nowvisit www.atos.net

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
19229 views comments | 28 tweets | 41 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
15136 views comments | 23 tweets | 32 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10954 views comments | 12 tweets | 23 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
8987 views comments | 14 tweets | 28 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job