Diebold Shares Dip on Lowered Forecast

[leftchick]

http://news.yahoo.com/s/ap/20050921/ap_on_bi_ge/diebold_outlook_11

NORTH CANTON, Ohio - Shares of Diebold Inc. plunged to a new year low Wednesday after the company said its president quit and it slashed its earnings forecast for the third quarter, blaming Hurricane Katrina and rising fuel costs along with a lower outlook for its automated teller machine business.

The North Canton company, which also makes security and voting machines, said its president and chief operating officer quit and that Walden W. O'Dell, Diebold's chairman and chief executive, would assume those positions to become more involved in the company's global operations.

"Our recent financial performance has been unacceptable, and these organizational changes are a major step toward improving our direction," O'Dell said.

Diebold says it now expects to make 32 to 37 cents a share for the quarter, including restructuring charges of 7 cents a share. Analysts surveyed by Thomson Financial had projected third-quarter earnings of 66 cents a share.

Full year earnings are expected to be between $1.90 and $2 a share, excluding restructuring charges. The company earned $2.53 a share in 2004.

The company's shares fell $6.90, or 16 percent, to close at $37.47 Wednesday on the New York Stock Exchange. The stock had previously traded in a 52-week range between $44.31 and $57.81.



Chairman and CEO of Diebold, Walden O'Dell is shown in this 2004 file photo. Shares of Diebold Inc. plunged to a new year low Wednesday, Sept. 21, 2005 after the company's president quit and it slashed its earnings forecast for the third quarter, blaming Hurricane Katrina and rising fuel costs along with a lower outlook for its automated teller machine business. (AP Photo/Luke Palmisano, FILE)

[ShockediSay]

1. Too bad that elections bought and paid for can't be booked IMHO

Too bad that elections bought and paid for can't be booked as legitimate profits.

Diebold, directly or indirectly contributed mightily to the Repugnantkins, supplied I don't know how many states with their voting machines (results of which could not be verified with a paper trail in large measure) and supplied questionable Repug victories in some key states as I recall.

I think that if we want real democracy, we don't want the likes of Diebold.

PS: Note the spin to the right - Katrina and rising fuel costs. That didn't seem to bother Greenspan. Betcha there's a lot of crooked well cooked numbers in their books.

[political_invader]

2. These Bastards deserve

what ever they get I hope they FLAME. I have had to walk around for the past 5 yrs in these

from all the Bull Shit they have caused.

[General Paranoia]

3. Gee, how about a Diebold Boycott

The news about the voting machine fraud has been slowly leaking out to the teeming millions. Other than bitching about it most people don't seem to know what to do about it. How about a BOYCOTT where people tell their bank to change automated teller machines or they will move their account to a bank that doesn't use Diebold? A stock boycott can also sting pretty bad. The stock boycott of Sinclair Broadcasting Group (SBGI) made them immediately back off forcing their affiliates to show their full anti-Kerry "documentary".

A few NO-Diebold stickers and some word of mouth could focus a huge amount of current rage.

People working for Diebold or in companies that use Diebold can do their own creative things.

We've got a year before 2006 and if we can get rid of Diebold the neocons are treason fodder.:argh: :nuke: :patriot:

[samsingh]

4. the company has a billion dollar market cap

some decent billionnaires can buy half the company and make the elections fair again. Small investment to protect freedom - don't you think?

[Alpharetta]

5. lowered forecast for ATM's because of Katrina? I doubt it

Seems like Katrina would have increased the demand for ATMs to replace those damaged/destroyed.

I smell a scandal.

[jsamuel]

9. good point...

[fshrink]

6. Mission accomplished.

Time to blow the master-fuse and move on to other shady challenges.

[dusty64]

7. This could

present a great opportunity for an antiextremist to get their hands on a controlling interest in this company.

[Freddie Stubbs]

8. Yeah, but who has $1.3 billion to spare?