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Technology Stocks : DBD: oversold at these levels?
DBD 9.370-0.5%Oct 16 4:02 PM EDT

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To: Joseph S. Lione who started this subject7/28/2000 3:39:46 PM
From: Shawn M. Downey   of 79
 
July 27, 2000

Diebold announces improved 2nd quarter
results

NORTH CANTON -- Diebold, Incorporated's (NYSE: DBD) second
quarter results showed strong improvement in revenue and earnings
per share.

In the quarter ended June 30, Diebold reported net income of
$35,833,000 or diluted 50 cents per share, on revenue of
$442,102,000. Excluding the effect of the acquisitions in Europe and
Brazil, earnings per share were 51 cents. This compares to second
quarter 1999 net income of $31,561,000, or diluted 46 cents per
share on revenue of $296,996,000.

For the six months ended June 30, Diebold reported net income of
$67,093,000, or diluted 94 cents per share, on revenue of
$786,694,000. For the same period in 1999, the company reported
net income of $60,685,000, or 88 cents per share, on revenue of
$580,479,000.

Excluding goodwill amortization, second quarter earnings per share
were 55 cents. This compares with 46 cents earnings per share
excluding goodwill amortization for the second quarter 1999. The
significant increase in goodwill amortization is due to Diebold's
recent acquisitions in Europe and Brazil. For the six-month period,
excluding goodwill amortization, earnings per share were $1.01. For
the same period 1999, the company reported 89 cents, excluding
goodwill amortization.

"We are very pleased with the progress made during the quarter,
particularly in our custom maintenance and professional service
businesses," said Walden W. O'Dell, Diebold chairman, president and
CEO. "As we continue to establish the company globally by
integrating key acquisitions, our expertise in delivering solutions that
meet our customers' needs places us in a strong position heading into
the future."

Total revenue for the quarter grew $145.1 million, or 48.9 percent.
Products and services were up 7.8 percent, excluding the
acquisitions. Total service revenue, excluding the acquisitions,
increased by $12 million, or 10 percent, reflecting the company's
emphasis on providing a greater mix of value-added services to its
customers. The company's security business increased 10 percent,
largely because of growing opportunities in emerging markets, such
as retail, and increased share in established markets.

Total service revenue increased 42.9 percent. U.S. service revenue
increased 4.8 percent, while international service revenue was up
47.3 percent excluding acquisitions. As a result, Diebold service
revenue increased 10 percent.
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