Diebold boosted by financial self-service sales

Diebold boosted by financial self-service sales

Diebold is reporting first quarter revenue growth of 21.5% over the year ago period, boosted by a strong performance in financial self-service.

The US-based vendor of ATM, security and voting equipment, has posted first quarter 2004 net income of $29.2 million on revenue of $498.3 million. Total financial self-service revenue grew by 22.2% and 15.1% on a fixed exchange rate basis, led by $60 million in Opteva product sales.

Walden O'Dell, Diebold chairman and chief executive officer, comments: "Market acceptance of Opteva is continuing to gain momentum globally, as the new product line continues to constitute a growing percentage of our overall financial self-service business."

Security solutions revenue grew 13.7% and 13.3% on a fixed exchange rate basis as a result of continued market share gains, growth in the financial industry, government, and retail markets and two small security business acquisitions in Asia-Pacific.

On the downside, orders in Europe, Middle East and Africa (Emea) decreased in the single-digit range due to competitive market conditions; while Diebold's US election system business suffered due to continued public uncertainty over confidentiality issues.

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