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ATM maker Diebold 1Q profit falls, cuts jobs

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kpete Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-05-09 09:44 AM
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ATM maker Diebold 1Q profit falls, cuts jobs
ATM maker Diebold 1Q profit falls, cuts jobs

May 5th, 2009 | NORTH CANTON, Ohio -- Automated teller machines maker Diebold Inc. reported a sharp decline Tuesday in first-quarter earnings as it recorded a hefty charge related to a proposed settlement with federal regulators. It also plans to cut about 300 jobs, or about 1.7 percent of its work force.

While Diebold's adjusted results topped Wall Street expectations, the company also cut its full-year forecast, citing declining orders.

Its shares skidded 12.2 percent lower to $23.70 in morning trading.

Net income tumbled 88 percent to $1.6 million, or 2 cents per share, for the three months ended March 31 compared with $13.8 million, or 21 cents per share, a year earlier.

Results included a $25 million charge for a deal Diebold reached with the Securities and Exchange Commission to settle civil charges related to a pending enforcement inquiry. The proposed settlement still needs final SEC approval.

more:
http://www.salon.com/wires/ap/business/2009/05/05/D9804...
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AndyA Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-05-09 09:50 AM
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1. If any company deserves to fail, it's Diebold, in my opinion.
Their junk electronic voting machines at the very least were designed to be compromised, and at worst the company assisted in stealing elections to put their candidates in office when they weren't duly elected by a vote of the people.

There are many legitimate concerns that people like Bush were never really elected, it was all a fraud due to these machines and others like them.

When the head of a company like Diebold announces they are going to do their part to make sure Bush wins the election, that's a problem if those actions include election fraud.

They deserve to fail. I feel sorry for those who have lost their jobs, but I think karma is catching up to some of these companies now.
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