Diebold Reports Record 3rd Quarter


It was a record third quarter for Diebold Inc., as the technology services company that specializes in security reported a net income of $48.3 million – the highest third quarter number in its history and a 9.5-percent increase compared to the 2002 third quarter.

Boosting the numbers was a 15.4-percent hike in revenue for the company’s security solutions resulting from market gains in the financial industry, government and retail markets. Overall, Diebold enjoyed its highest total product orders in the company’s industry, amounting to a double-digit increase.

“Looking forward, these results, combined with growing demand for Opteva (ATM machines) and our security solutions, positions us well for future accelerated revenue growth,” said Walden W. O’Dell, Diebold CEO, in a statement. O’Dell also remarked about how the company’s growth in the Asia-Pacific region played a role, including the acquisition of Australian security companies Cardinal Brothers Manufacturing & Operations Pty. Ltd. and Vangren Technology. Diebold saw a 21.2-percent increase in revenue from the Asia-Pacific region.

Overall, security solutions made $13.7 million in revenue for Diebold in the third quarter of 2003, compared to $11.9 million in 2002.

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