Voting machine maker profits fall in third quarter

[Algorem]

http://www.cleveland.com/newsflash/cleveland/index.ssf?/base/business-5/1130334841127540.xml&storylist=cleveland

10/26/2005, 9:45 a.m. ET
The Associated Press

NORTH CANTON, Ohio (AP) — Automated teller and voting machine maker Diebold Inc. said on Wednesday that slow demand for bank security products and a delay in Gulf region voting equipment purchases led to a 45 percent drop in third-quarter profits.

The North Canton-based company on Wednesday said income in the quarter was $26.4 million, or 37 cents a share, down from year-ago profits of $48.3 million, or 67 cents a share.

Excluding one-time items including restructuring costs and costs associated with a manufacturing start-up, earnings were 30 cents per share. Thomson Financial analysts had expected earnings of 27 cents a share in the three-month period ended Sept. 30.

Sales totaled $622.3 million, up nearly 3 percent from $606 million in the third quarter of 2004, the company reported...


http://www.diebold.com