SEC investigates Diebold's earnings

SEC investigates Diebold's earnings
Tags: Bank / Credit Union, Debit / Credit, Diebold, Incorporated, Distributors / ISO / IAD, EFT Networks, Public Companies, Regulatory Issues, Retail / Off-Premises
August 7, 2006

Reuters: The Securities and Exchange Commission has launched a formal investigation into how Diebold Inc. recognizes revenue. (Read also, Diebold sees revenue rise, net income fall.) Diebold said it is cooperating with the SEC, but declined to elaborate on the investigation. The company is expected to reduce fourth-quarter revenue by $7 million and net income by $4.2 million, or 6 cents per share. The revenue will be recognized as earnings between 2007 and 2010.