NORTH CANTON, Ohio -- Diebold, Incorporated (NYSE: DBD) announced its first quarter results, which showed improvement in both revenue and earnings per share.
In the quarter ended March 31, Diebold reported net income of $31,260,000 or diluted 44 cents per share (71,444,000 shares), on revenue of $344,592,000. Excluding the anticipated dilutive effect of Procomp, earnings per share were 46 cents. This compares to first quarter 1999 net income of $29,124,000, or diluted 42 cents per share (69,177,000) on revenue of $283,483,000.
Total revenue increased 11.2 percent, excluding Procomp and prior year trade sales to Procomp, led by strong U.S. and international product results. Service revenue increased 8.6 percent, excluding Procomp, from the year ago period.
International product revenue showed dramatic improvement, evidenced by more than 100 percent revenue growth in Asia-Pacific and Europe, the Middle East and Africa.
"We are very encouraged by the performance of our worldwide business during the quarter, particularly the gains we made in Asia and Europe," said Walden W. O'Dell, Diebold president and CEO.
"After a weak start, business increased throughout the period, ending with a very strong March. The company's ongoing shift toward advanced-function applications and services, and emerging opportunities in Web-based self- service applications, positions Diebold well for the remainder of 2000 and beyond."
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