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Diebold net income up 65.2 in third quarter
NORTH CANTON, Ohio (10/31/08)--Diebold’s 2008 third quarter revenue was $890.3 million, an increase of 20.2% from the same time period last year, the company reported Thursday. Net income was $46.5 million during the third quarter--65.2% more than last year. Diebold also reported:
* Earnings for the third quarter were 70 cents per share, compared with 42 cents per share in 2007; * Financial self-service products and services revenue increased 18.3% over the prior period, while total security revenue decreased 6.4%; * Election systems revenue in Brazil totaled $58.6 million, more than 85% of Diebold’s increase in total election systems revenue; and * The net positive currency impact was 3.4 percentage points.
The third-quarter results included restructuring changes related primarily to severance and reorganization costs from the previously announced reduction in Diebold’s global workforce. Diebold also incurred $24.7 million in non-routine expenses in the third quarter, compared with $3.3 million in third-quarter 2007. “We continue to make solid progress on our key initiatives to reduce costs and improve profitability, and this is reflected in our results,” said Thomas W. Swidarski, Diebold president/CEO.
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