Diebold sees higher revenues and earnings

SSN Staff  - 
Friday, March 1, 2002

NORTH CANTON, Ohio-Diebold Inc. reported its highest earnings per share in the company's history and a steep 22 percent rise in its security revenues for the company's fourth-quarter and year-end results, for the period ending Dec. 31.

The company's security business saw a rise from additional business from former Mosler customers seeking service, the company said. Diebold bought the remain-ing assets of the defunct company, which declared bankruptcy and liquidated last year, for $28 million.

The company reported $42 million in security hardware revenue and $51 million in security maintenance services revenue for 2001. Total year-end company-wide revenue, at $508,203,000, exceeded $500 million for the first time, excluding special charges and realignment.

Walden O'Dell, Diebold's chairman, president and chief executive officer, said the company's fourth quarter performance was bolstered by double digit growth in the U.S. and in the Americas despite economic difficulties.

"Additionally, we continued leveraging our core competencies with the acquisition of selected assets of the former Mosler Inc., the outsourced service business of Bank of America Inc. and the recently completed acquisition of Global Elections Systems. These key strategic actions will strengthen our core capabilities and position us well for future growth."