Diebold will have to restate their earnings forecast

[KaliTracy]

'cause they were counting on the Ohio Sales now that Blackwell has decided to completely go optiscan (I thought an e-vote vendor hadn't been chosen?). Heard today on Radio (WMUB, Oxford Ohio)

Looking around for this bit of information so I could post a link, I found this: Note: it says nothing about Ohio here -- but the report this morning and afternoon directly linked the reduction of earnings forecast to Ohio's Optiscan choice...

Diebold reports reducing its earnings forecast

NORTH CANTON, Ohio -- Mounting legal costs over its electronic voting equipment have forced automated teller machine maker Diebold Inc. to slash its third-quarter earnings forecast. Nevertheless, the company said, it’s determined to stay in the e-voting market, which comprises 5 percent of its business.

Diebold said Monday that a California lawsuit alleging it sold the state unreliable touch-screen voting machines, exposing elections to hackers and software bugs, would reduce profit by 5 cents a share.

Executives expect the company to earn about 67 cents a share, down from its earlier forecast of 70 cents to 74 cents.

The company also forecast a 1-cent reduction in fourth-quarter earnings and now expects full-year earnings of $2.54 to $2.59 a share.

http://www.thedesertsun.com/news/stories2004/business/20041011221214.shtml

edited for spelling and clarity

[k8conant]

1. Let's watch for Chapter 11.....n/t

[Merlot]

2. Yea for us!

Diebold said Monday that a California lawsuit alleging it sold the state unreliable touch-screen voting machines, exposing elections to hackers and software bugs, would reduce profit by 5 cents a share.

[bemis12]

3. Doesn't that make it appear

that they're basically admitting they'll lose that lawsuit? After all, if you win it only costs the attorney fees.

[KaliTracy]

8. i thought it was already settled? maybe not... n/t

[bemis12]

9. You are correct- $2.6 million

My bad.

[f4tc4t]

6. That's good for Ohio too...

At least I hope it is. I think electronic machines without a paper trail have very little future anywhere (imo).

Regards
fc
southern ohio
political links
u.s. government links

[Up2Late]

4. Hey, that's it!

What if we all pitched in to a local State fund, and we all launched some "Frivolous Law Suits" against those bastards at DIEBOLD. :think:

If nothing else, we might put them into Bankruptcy. :evilgrin:

Any lawyers out there that can advise on the procedure?

[Liberty Belle]

5. MORE DIEBOLD????? We've gotta stop this.

33% of their Optiscanners in San Diego failed, including some that were down all day on Election Day. They are unreliable at best, rigged at worst. There were plenty of suspicions raised in Florida and elsewhere that Diebold optiscanners were rigged or hacked.

Who do we write to now? Are the Ohio papers aware of the controversies over this particular machine?

:kick: :kick:

[KaliTracy]

10. Ohio uses optiscan -- Lucas County at least in one precinct did

(my mom voted there) --

See this chart from http://www.jqjacobs.net/bush/xls/ohio.html -- Quite a number of Optiscan devices already....

[KaliTracy]

7. not sure it will be Chapter 11 -- they have their hands in a lot of pots

Financial industry
Retail industry
Election systems
Creating secure, productive environments

Physical security and facility products
Electronic security
Card systems
http://phx.corporate-ir.net/phoenix.zhtml?c=106584&p=irol-irhome

They posted almost 25 million for first Quarter of 2003
http://www.business-journal.com/LateApril03/DieboldQ1.html