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Business






Posted on Wed, Jul. 23, 2003
Diebold earnings pushed up by strong security sales
Associated Press

Diebold Inc., which makes automated teller machines and security and voting equipment, reported second-quarter earnings Wednesday of $41.3 million.

The North Canton company cited strong demand for security products for the 3.8 percent increase over the year-ago quarter. That's when Diebold earned $39.8 million on sales of $483.5 million.

Sales in the second quarter ended June 30 were $480.9, down half a percent from last year. Operating costs also fell, though, accounting for the increased earnings.

The earnings met expectations of analysts surveyed on Thomson First Call.

Chief executive officer Walden W. O'Dell said in a statement that growth in voting machine and ATM sales as well as the high security demand pushed the company to raise earning guidance for the rest of the fiscal year.

Diebold raised its earnings per share forecast to between $2.35 and $2.45. It had been between $2.32 and $2.42.

For the third quarter, earnings per share are expected to be between 62 cents and 67 cents on revenue between $490.5 million and $504 million.

Diebold shares closed Wednesday up $1.01 to $44.25 on the New York Stock Exchange.

ON THE NET

http://www.diebold.com/

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