Reuters: Technology News: Diebold cuts full-year outlook on Brazil delays

Reuters: Technology News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Diebold cuts full-year outlook on Brazil delays Oct 16th 2012, 13:11 Tue Oct 16, 2012 9:11am EDT (Reuters) - ATM and voting machine maker Diebold Inc (DBD.N) reported preliminary quarterly results below market expectations and cut its full-year outlook, blaming order delays in Brazil, pushing its shares down 11 percent in trading before the bell. Diebold now expects full-year revenue growth of 6 percent and adjusted earnings of $2.25 to $2.30 per share, down from its earlier forecast of 6 to 8 percent revenue growth and earnings of $2.50 to $2.60 per share. "We have also experienced customer delays related to our financial self-service business in Brazil, which will have an adverse effect on our full-year results," Chief Executive Thomas Swidarski said. Latin America accounts for more than a fifth of the company's revenue, and a large chunk of this comes from Brazil. The company had lowered the top end of its 2012 earnings forecast when it announced second-quarter results after Brazil said it would not order more voting terminals ahead of October elections. Diebold expects revenue of $710 million and adjusted earnings of 39 cents per share for the third quarter. Analysts on average expect revenue of $735 million and earnings of 50 cents per share, according to Thomson Reuters I/B/E/S. The company said it plans to release full third-quarter results on October 25. Shares of the company, whose competitors include NCR Corp (NCR.N), closed at $33.74 on the New York Stock Exchange on Monday. (Reporting by Tej Sapru in Bangalore; Editing by Sriraj Kalluvila) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions