NORTH CANTON, Ohio - Diebold Inc. announced in an Aug. 15 news release that, because of a revenue recognition issue, 2005 second quarter revenue was approximately $10.3 million less, and net income was approximately $1.3 million less, than what was reported in the company's July 27 Securities and Exchance Commission earnings announcement.
The company determined that certain shipments of voting machines to the state of Ohio in June did not include memory cards - adhering to Diebold Election Systems' security procedures for certain counties in the state. As a result, the revenue and net income from these voting machines should have been deferred until the memory cards were delivered in July.
See also: Diebold's 2Q results reveal revenue increase, net loss
