Printer Friendly

DIEBOLD'S FIRST QUARTER REVENUES AND EARNINGS INCREASE VS. 1991

 DIEBOLD'S FIRST QUARTER REVENUES AND EARNINGS INCREASE VS. 1991
 CANTON, Ohio, April 15 /PRNewswire/ -- Diebold, Incorporated (NYSE: DBD) today reported improved first quarter revenues and earnings before an accounting change compared with the 1991 first quarter. Revenues were up 8 percent compared to the prior-year quarter, while earnings were up 21 percent.
 In the quarter ended March 31, 1992, Diebold had net income of $6,365,000, or $.48 per share, on revenues of $121,587,000. This compares with net income of $5,251,000, or $.40 per share, on revenues of $112,789,000 in the 1991 first quarter.
 According to Robert W. Mahoney, chairman and chief executive officer, Diebold's operating profits were also up significantly in the first quarter. "We attribute this to excellent expense control along with strong gross margins on products due to the efficiency of our focus factories and improved pricing," he said. "We are pleased with these results and believe we are on track to achieve our financial objectives for the year."
 As previously reported, Diebold adopted the provisions of Statement of Financial Accounting Standard No. 106, "Employers' Accounting for Postretirement Benefits Other than Pensions," during the first quarter of 1992. All publicly traded companies are required to adopt this accounting rule by 1993. This one-time adjustment of $1.26 per share resulted in a first quarter loss of $.78 per share.
 Diebold, Incorporated, headquartered in Canton, Ohio, is a world leader in financial self-service transaction systems, security products and customer service. Founded in 1859 as a security equipment company, Diebold today manufactures, sells and services ATMs, automated fuel systems, video dispensing machines, electronic and physical security systems, facility products and software for global financial and commercial markets.
 DIEBOLD, INCORPORATED
 (IN THOUSANDS EXCEPT NET INCOME PER SHARE)
 (Unaudited)
 Three Months Ended
 March 31,
 1992 1991
 Net Sales $121,587 $112,789
 Income before taxes and cumulative
 effect of change in accounting
 principle 8,775 7,651
 PERCENT OF NET SALES 7.22 6.78
 Federal, foreign and state income taxes 2,410 2,400
 EFFECTIVE TAX RATE (percent) 27.46 31.37
 Income before cumulative effect of change
 in accounting principle 6,365 5,251
 PERCENT OF NET SALES 5.23 4.66
 Cumulative effect of change in accounting
 principle (16,835) ---
 Net (loss)/income ($10,470) $5,251
 Average number of shares outstanding 13,348 13,232
 Earnings per share:
 Before cumulative effect of change
 in accounting principle $0.48 $0.40
 Cumulative effect of change in
 accounting principle (1.26) ---
 Net (loss)/income ($0.78) ($0.40)
 -0- 4/15/92
 /CONTACT: Mary Ann Jackson, senior manager of corporate public relations and advertising of Diebold, Incorporated, 216-497-4757/
 (DBD) CO: Diebold, Incorporated ST: Ohio IN: SU: ERN


KK -- CL007 -- 8566 04/15/92 10:00 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 15, 1992
Words:464
Previous Article:CHICAGO BOARD OPTIONS EXCHANGE (CBOE) ANNOUNCES TRADING HOURS
Next Article:CBS ANNOUNCES FIRST QUARTER 1992 RESULTS


Related Articles
GRACE REPORTS LOWER FIRST QUARTER INCOME OF $5 MILLION; EXPECTS FULL YEAR OPERATING EARNINGS UP OVER 10 PERCENT
FREMONT GENERAL CORP. POSTS A 28 PERCENT INCREASE IN FIRST QUARTER EARNINGS PER SHARE
DIEBOLD'S 1992 SECOND-QUARTER AND SIX-MONTH EARNINGS INCREASE
DIEBOLD'S 1992 THIRD-QUARTER AND NINE-MONTH EARNINGS INCREASE
DIEBOLD ANNOUNCES IMPROVED 1992 FOURTH-QUARTER AND YEAR-END RESULTS
DIEBOLD'S FIRST QUARTER REVENUES AND EARNINGS INCREASE COMPARED WITH 1993 PERIOD
DIEBOLD'S FIRST QUARTER REVENUES AND EARNINGS INCREASE COMPARED WITH 1993 PERIOD
DIEBOLD'S FIRST QUARTER REVENUES AND EARNINGS INCREASE COMPARED WITH 1994 PERIOD
Diebold Announces Record First Quarter Earnings.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters