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Diebold returns to profit in first quarter

22 April 2003  |  2904 views  |  0 Diebold returns to profit in first quarter

Diebold is reporting first quarter earnings of $25.9 million against a loss of $6.6 million in the same period last year as revenue from security solutions and financial self-service sales in Asia showed a significant improvement.

Total revenue for the quarter was $410.2 million, up $9.1 million, or 2.3% and 3.7% on a fixed exchange rate basis. Diebold's financial self-services business remained stable in the Americas but saw big swings elsewhere as revenue growth of 27% in Asia Pacific was offset by a 12.8% slide in European revenues.

Security solutions revenue grew 22.8% as a result of growth in the financial industry, government and retail markets.

Walden O'Dell, Diebold chairman, president and chief executive officer, comments: "We see global demand for new self- service products strengthening during the second half of the year as we roll out our new Opteva self-service hardware platform."

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