Diebold reports 76 percent decline in fourth-quarter earnings

[AtLiberty]

Posted on Tue, Jan. 31, 2006
AP

Diebold reports 76 percent decline in fourth-quarter earnings

Associated Press

NORTH CANTON, Ohio - Diebold Inc. said on Tuesday that fourth-quarter earnings fell 76 percent, hurt by restructuring charges as the maker of automated teller and voting machines looks to overhaul its business following the resignation of its chief executive.

Diebold earned $14.6 million, or 21 cents per share, for the quarter ended Dec. 31, down from profits of $62.8 million, or 87 cents a share, a year ago. Sales were up 15 percent to $817.6 million from $711.6 million.

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"Many states and jurisdictions continue to see the benefits of electronic voting as evidenced by the way our equipment performed in the November 2005 election," Swidarski said.

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Investors are suing Diebold, claiming the company made misleading comments about its electronic voting machine business that led to artificially high share prices. The lawsuits filed in December in U.S. District Court in Cleveland argued that Diebold was unable to assure the quality and working order of its voting machines.

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http://www.ohio.com/mld/beaconjournal/news/state/13755507.htm

[wtbymark]

1. I smell corperate welfare from chimpy

[JeffR]

2. Don't worry about Diebold

Any day they'll be offered a no-bid contract to keep America in Republican hands forever.

[mom cat]

4. Th check is in the mail already.

[fooj]

3. Boo fucking hoo!

Peace.