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Diebold exceeds $2B in sales in '03

January 27, 2004

NORTH CANTON, Ohio - On the strength of increased ATM sales, Diebold Inc. more than doubled its earnings in 2003's fourth quarter from a year ago and exceeded $2 billion in annual sales for the first time.

Diebold, which also manufactures security and voting equipment, earned $59.2 million, or 81 cents per share, in 2003's fourth quarter, up from $21.9 million, or 30 cents per share, a year ago. The per-share result beat the Thomson First Call estimate by a penny.

Fourth-quarter revenues were $648.4 million, up 23 percent from $525.8 million a year ago.

The company's sales of financial self-service products, including ATMs and related services, gained 19.3 percent. Financial self-service revenues were $469.5 million, up from $393.5 million a year earlier. According to Diebold, results were driven in part by orders for its new Opteva ATMs, which exceeded $40 million in the quarter.

For all of 2003, Diebold earned $174.8 million, or $2.40 per share, on sales of $2.1 billion. In 2002, the company earned $99.2 million, or $1.37 per share, on sales of $1.9 billion.

Diebold said it expects earnings to range from 38 cents to 42 cents per share in 2004's first quarter and $2.58 to $2.70 per share for the year.

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