Diebold Reports Q4 Financial Results
NORTH CANTON, Ohio, Diebold, Incorporated today reported fourth quarter 2009 income from continuing operations attributable to Diebold, net of tax, of $7.9 million, or $0.12 per share. These amounts are down 55% and 54%, respectively, from the fourth quarter 2008. Fourth quarter 2009 revenue was $724.9 million, down 8% from fourth quarter 2008.
"We delivered solid operational results during the fourth quarter, despite a number of challenges the financial industry continues to face," said Thomas W. Swidarski, Diebold president and chief executive officer. "In addition to growth in orders and full-year cash flow, we generated improved service margins during the quarter representing our 10th consecutive quarter of year-over-year
improved service gross margin."
Swidarski continued, "While I am encouraged by the strong fourth quarter order growth we generated across most geographies, our business related to bank branch construction in North America remains especially challenging and will likely not return to historical norms in the near future. To improve our ability to invest in key growth initiatives, we are realigning our organization and resources to
better support our opportunities in the emerging growth markets. Unfortunately, these changes will result in the elimination of approximately 350 full-time jobs from our North America operations and corporate functions. These reductions will be largely completed by mid-February. As always, these are extremely difficult decisions, but necessary to ensure we''re in a position of strength in our industry."
Swidarski concluded, "Despite these actions, we will continue to accelerate our investment in developing new solutions and growing our infrastructure in the emerging growth markets as well as in the services business globally. At the same time, North America remains our key market, especially as customers begin planning deposit automation deployment and investing in services that allow them to focus more on their core business. We will maintain our strong leadership position by leveraging our unmatched services capability to deliver higher value solutions in these areas to our customer base."
|
