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Brazil sales weigh on Diebold forecast
July 30, 2012 / 1:26 PM / 5 years ago

Brazil sales weigh on Diebold forecast

* 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 (Reuters) - Voting machine and ATM 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 company expects adjusted earnings of 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 continuing operations.

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 closed at $36.32 on Friday on the New York Stock Exchange.

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