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Diebold exceeds expectations for first quarter
NORTH CANTON, Ohio (4/28/10)--Diebold reported first quarter 2010 income from continuing operations at $24.9 million, or $0.37 per share. The amounts are both up 185% from the first quarter of 2009. First quarter 2010 revenue was $619 million, down 6% from the same quarter in 2009, Diebold said in a release. “During the first quarter, we delivered solid results despite a challenging comparison to the same period last year, during which the effects of the global recession had yet to impact our results,” said Thomas W. Swidarski, Diebold president/CEO. “We exceeded our internal expectations during the quarter, as some business closed sooner than expected and we benefited from a more profitable segment mix.” The company is more confident in its full-year outlook and is continuing to focus on emerging solutions and building its infrastructure in key growth markets worldwide, he added. Other items Diebold noted were:
* Global products and services orders decreased 9% compared with the prior-year period; * Global financial self-service orders decreased 10% against first quarter 2009 after a growth of 40% in fourth quarter 2009; * Total gross margin for first quarter 2010 was 25.5%, an increase of 2.3 percentage points from first quarter 2009; * Total operating expense as a percentage of revenue for the first quarter 2010 was 19%; and * Operating profit was 6.6% of net sales in first quarter 2010, a decrease of 0.2 percentage points from first quarter 2009.
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