Diebold's doing just fine, thank you
By Martha Entwistle
Updated Fri October 31, 2008
Since Diebold's finances have drawn a lot of attention over the past year, what with the UTC bid, etc., I thought I'd post a link to their earnings report. Things look pretty good:
Diebold, Incorporated today reported 2008 third quarter revenue of $890.3 million, an increase of 20.2 percent from the third quarter of 2007. The company also reported net income of $46.5 million during the third quarter of 2008, compared to net income of $28.1 million in the comparable period in 2007, an increase of 65.2 percent. Earnings for the third quarter of 2008 were $.70 per share, compared to $.42 per share in the third quarter of 2007, an increase of 66.7 percent.
I guess the recession hasn't hit Diebold too hard. A net margin of 5 percent is solid, if not completely world-beating, but a 20 percent increase in revenue year over year, without a significant acquisition is better than most.
Unfortunately, security is not exactly the engine of his growth:
Total revenue for the 2008 third quarter was up 20.2 percent. Financial self-service products and services revenue increased 18.3 percent over the prior period, while total security revenue decreased 6.4 percent. During the quarter, election systems revenue in Brazil was $58.6 million, representing more than 85 percent of the increase in total election systems revenue. Of the 20.2 percent increase in total revenue, the net positive currency impact was 3.4 percentage points.
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