Diebold Nixdorf today reported its second quarter 2017 financial results.
• GAAP revenue of $1.1 billion
• GAAP EPS from continuing operations was a loss of $0.41, or earnings of $0.08 on a non-GAAP basis
• GAAP operating profit was a loss of $30.1 million, or (2.7)% operating margin; non-GAAP operating profit was $40.5 million, or 3.5% operating margin
• Net cash used by continuing operating activities was $119.4 million, an increase in use of $29.5 million from the prior year period; free cash use was $133.7 million, an increase in use of $37.2 million from the prior year period
“Certainly, the financial projections for 2017 are very disappointing. While the sales trend has been improving, the timing and volume of orders to date, combined with near-term pressures on our service margins, led us to revise our full-year guidance on July 5,” said Andy W. Mattes, president and chief executive officer, Diebold Nixdorf. “During the second quarter, we delivered sequential growth in orders and backlog. This demonstrates the market acceptance of our new solution portfolio and the competitive advantage we bring to our customers. As planned, our operating expenses have improved from the prior year as a result of our integration efforts. We are taking additional steps to increase and accelerate our cost reductions, strengthen our sales efforts and further enhance our offerings. As we near the first anniversary of the combination of our two companies, I am more confident than ever that we are uniquely positioned to deliver innovative solutions to our customers and long-term value to our stakeholders.