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Technology Stocks : DBD: oversold at these levels?

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To: Joseph S. Lione who wrote ()4/18/2000 2:04:00 PM
From: Shawn M. Downey  Read Replies (1) of 79
April 18, 2000

Diebold announces first quarter results

NORTH CANTON, Ohio -- Diebold, Incorporated (NYSE: DBD)
announced its first quarter results, which showed improvement in both
revenue and earnings per share.

In the quarter ended March 31, Diebold reported net income of
$31,260,000 or diluted 44 cents per share (71,444,000 shares), on
revenue of $344,592,000. Excluding the anticipated dilutive effect of
Procomp, earnings per share were 46 cents. This compares to first
quarter 1999 net income of $29,124,000, or diluted 42 cents per
share (69,177,000) on revenue of $283,483,000.

Total revenue increased 11.2 percent, excluding Procomp and prior
year trade sales to Procomp, led by strong U.S. and international
product results. Service revenue increased 8.6 percent, excluding
Procomp, from the year ago period.

International product revenue showed dramatic improvement,
evidenced by more than 100 percent revenue growth in Asia-Pacific
and Europe, the Middle East and Africa.

"We are very encouraged by the performance of our worldwide
business during the quarter, particularly the gains we made in Asia
and Europe," said Walden W. O'Dell, Diebold president and CEO.

"After a weak start, business increased throughout the period, ending
with a very strong March. The company's ongoing shift toward
advanced-function applications and services, and emerging
opportunities in Web-based self- service applications, positions
Diebold well for the remainder of 2000 and beyond."
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