* Q2 adj. EPS $0.49 vs est $0.58
* Q2 revenue up 12 percent
* Sees FY 2012 EPS $2.50-$2.60 vs prev $2.50 to $2.70
* Sees FY 2012 revenue growth of 6-8 pct vs prev 7-10 pct
July 30 ATM and voting machine maker Diebold
Inc's quarterly profit missed analysts' expectations and
the company lowered the top end of its 2012 earnings forecast
after Brazil said it would not order more voting terminals ahead
of October elections.
The first earnings miss in five quarters sent the company's
shares down as much as 12 percent to $31.68, their lowest in
more than six months.
Latin America accounts for more than a fifth of the
company's revenue. A large chunk of this comes from Brazil,
which will hold its municipal elections in October.
Election officials recently informed the company that they
would not be ordering any additional terminals until the
elections are over. R e venue from these additional terminals will
now be recognized in 2013, the company said.
It had earlier expected to deliver 60,000 voting terminals
to Brazil in 2012.
Diebold expects adjusted earnings to be between $2.50 and
$2.60 per share. It had previously forecast adjusted earnings of
$2.50 to $2.70 per share.
Analysts on average were expecting 2012 earnings of $2.68
per share according to Thomson Reuters I/B/E/S.
The company expects its 2012 revenue to grow between 6
percent and 8 percent, down from its previous forecast of a
growth of between 7 percent and 10 percent.
For the second quarter, Diebold's net income rose to $26.5
million, or 41 cents per share, from $20.3 million, or 31 cents
a share, a year ago.
Excluding items, the company earned 49 cents a share from
Net sales rose 12 percent to $743.2 million.
Analysts on average expected earnings of 58 cents a share on
revenue of $731.2 million.
Shares of the company, which competes with NCR Corp,
were trading down 11.75 percent at $32.05 on Monday morning. The
stock was one of the biggest percentage losers on the New York