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The Suburbanite
  • Diebold cuts 2012 net income and revenue guidance

  • Diebold Inc. on Tuesday cut its full-year net income and revenue predictions and issued a lower-than-expected guidance for the third quarter, sending its shares tumbling.

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  • Diebold Inc. on Tuesday cut its full-year net income and revenue predictions and issued a lower-than-expected guidance for the third quarter, sending its shares tumbling.
    The maker of bank teller machines, security systems and equipment attributed the lower-than-expected outlooks to a shift in its North American business and customer delays related to its sell-serve business in Brazil.
    The company said it expects to post adjusted 2012 earnings of $2.25 to $2.30 per share on revenue growth of 6 percent. Based on the company's 2011 revenue, the new guidance implies 2012 revenue of about $3.01 billion.
    The Green-based company previously projected earnings of $2.50 to $2.60 per share on revenue growth of 6 percent to 8 percent. Analysts polled by FactSet expect earnings of $2.57 per share on $3.04 billion in revenue.
    For its recently ended third quarter, Diebold said it expects to earn an adjusted 39 cents per share on about $710 million in revenue. Analysts expect earnings of 50 cents per share on $739 million in revenue.
    Diebold said it plans to release its full third-quarter results before the markets open on Oct. 25.
    The company's shares dropped $2.54, or 7.5 percent, to $31.20 in morning trading after falling as low as $29.77 in earlier trading. That approaches their 52-week low of $28.06 per share set last November.