30 July 2016
Find out more

SEC probes Diebold

08 August 2006  |  6258 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  |  4476 views  |  0 comments
Diebold terminates IT outsourcing deal

Diebold terminates IT outsourcing deal

17 May 2006  |  6264 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  |  4675 views  |  0 comments
Diebold overhauls IT function

Diebold overhauls IT function

07 February 2006  |  7218 views  |  0 comments
Diebold CEO O'Dell resigns

Diebold CEO O'Dell resigns

13 December 2005  |  5395 views  |  0 comments
Diebold fires COO; cuts earning forecast

Diebold fires COO; cuts earning forecast

21 September 2005  |  6314 views  |  0 comments
Diebold buys Tata Infotech's Indian ATM facility

Diebold buys Tata Infotech's Indian ATM facility

15 July 2005  |  8957 views  |  0 comments
Diebold axes 300 jobs; cuts profit forecast

Diebold axes 300 jobs; cuts profit forecast

30 June 2005  |  5133 views  |  0 comments
Diebold to close US ATM plant

Diebold to close US ATM plant

10 June 2005  |  5987 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euFind out moreVisit capgemini.com

Who is commenting?

Top topics

Most viewed Most shared
Groupe BPCE agrees to buy FidorGroupe BPCE agrees to buy Fidor
8374 views comments | 38 tweets | 55 linkedin
Telefonica Germany launches Fidor-backed mobile banking serviceTelefonica Germany launches Fidor-backed m...
7137 views comments | 16 tweets | 22 linkedin
hands typing furiouslyManaging Big Data After Brexit
6814 views 0 | 6 tweets | 8 linkedin
hands typing furiouslyWhat is FinTech and where does it Live?
5909 views 0 | 14 tweets | 4 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job