ATM maker Diebold, Inc. (DBD) announced first-quarter net loss attributable to the company of $13.4 million, or $0.21 per share, versus a profit of $45.2
million, or $0.71 per share, last year.
On a non-GAAP basis, loss attributable to Diebold was $0.04 per share in the recent quarter. On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.16 for the quarter. Analysts' estimates typically exclude one-time items.
Total revenue was $633.5 million, down 9.3% from $698.5 million in the first quarter 2012. Analysts estimated revenues of $659.01 million for the quarter.
Separately, Diebold announced a multi-year global realignment plan entailing near-term and long-term actions aimed at reducing its cost structure by $100 million to $150 million. Further, the company believes that nearly 50 percent of the savings would positively impact operating profit.
The substantial portion of the actions necessary to achieve the targeted savings should be completed by the end of 2014, and the total savings are expected to be fully realized by the end of 2015.
For comments and feedback: editorial@rttnews.com