Reply #2: Diebold to repurchase shares

[Melissa G]

Diebold to repurchase shares
Thanks to John Gideon for the link!



By BRANDON GLENN

9:43 am, December 8, 2005



Directors of Diebold Inc. (NYSE: DBD) have authorized the company to repurchase 4 million shares of its stock.

CEO Walden O’Dell called the company’s stock “an exceptional value at current market levels,” according to a statement from the Green-based manufacturer of automated teller machines, security systems and voting equipment.

Diebold’s stock has tumbled 34% this year, closing Wednesday at $37.03.

The company is authorized to purchase another 500,000 shares, part of a 2 million-share purchase authorization in August. Diebold management has purchased 3.3 million shares of the company’s stock in 2005. The company has nearly 69 million shares of common stock outstanding.

“snip
The company has posted declining year-over-year earnings in all three quarters of 2005. Diebold officials have cited a host of problems, including weak demand from banking customers and poor supply chain management.

http://www.crainscleveland.com/apps/pbcs.dll/article?AID=/20051208/FREE/51208001/1003&Profile=1003