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Diebold raises its earnings outlook
NORTH CANTON, Ohio (10/2/08)--ATM manufacturer Diebold Inc. has raised its earnings outlook for full-year 2008, according to reports filed by the company Monday with the Securities and Exchange Commission. That means Diebold will resume its normal reporting schedule beginning with the third quarter after adjustments during an internal review of its previous accounting had delayed its second-quarter reports. Current guidance indicates that earnings per share for 2008 will be $1.62-$1.52, an increase from previous guidance that indicated earnings would be $1.47-$1.37. Under non-generally accepted accounting principles, earnings for 2008 are at $2.40-$2.45, up from $2.25-$2.30. The increase in expected earnings is a result of Diebold’s cost-reduction initiatives, improved profitability from the company’s Brazilian voting and lottery businesses, continued demand for the company’s solutions in the global financial markets and a lower anticipated effective tax rate. “Our global sales environment remains solid despite the well-publicized challenges facing the financial industry in the U.S., as demonstrated by some of the recent orders we’ve announced,” said Thomas W. Swidarski, Diebold president/CEO.
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