Diebold Files Form 10-K for Year-Ended December 31, 2009
Poster: SySAdmin
Posted on March 1, 2010 at 10:58:46 AM
Diebold Files Form 10-K for Year-Ended December 31, 2009
Change in tax provision related to disposition of U.S.-based elections systems business results in a higher loss from discontinued operations in 2009; EPS from continuing operations in 2009 remains $1.09, or $1.65 on a non-GAAP basis
NORTH CANTON, Ohio, March 1 -- Diebold, Incorporated (NYSE:DBD) today filed its annual report on Form 10-K for the year ended December 31, 2009, with the Securities and Exchange Commission.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080725/DIEBOLDLOGO )
As a result of finalizing the tax benefit related to the disposition of the company's U.S.-based elections systems business in 2009, the loss from this discontinued operation for the fourth quarter and full year 2009 is $15.6 million higher than what was reported in Diebold's unaudited earnings announcement dated February 3, 2010. This resulted in the diluted earnings per share (EPS) loss from discontinued operations being $0.23 higher than what was previously reported. Diluted EPS from continuing operations in 2009 remains $1.09, or $1.65 on a non-GAAP basis. This adjustment has no impact on the company's previously reported 2010 full-year revenue and EPS expectations.
The tax benefit was lower than originally expected due to a revision in the tax calculations associated with the disposition of the U.S.-based elections business.
Notes for Non-GAAP Measures (as previously reported)
Reconciliation of diluted GAAP EPS to non-GAAP EPS from continuing operations measures:
FY 12/31/09
Total EPS from continuing operations (GAAP measure) $1.09
Restructuring charges 0.27
Non-routine expenses 0.39
Non-routine income (0.12)
Impairment 0.02
Total EPS (non-GAAP measure) $1.65
The company's management believes excluding restructuring charges, non-routine expenses and income and impairment charges is useful to investors because it provides an overall understanding of the company's historical financial performance and future prospects. Management believes EPS (non-GAAP) from continuing operations is an indication of the company's base-line performance before gains, losses or other charges that are considered by management to be outside the company's core operating results. Exclusion of these items permits evaluation and comparison of results for the company's core business operations, and it is on this basis that management internally assesses the company's performance.
About Diebold
Diebold, Incorporated is a global leader in providing integrated self-service delivery and security systems and services. Diebold employs more than 16,000 associates with representation in nearly 90 countries worldwide and is headquartered in Canton, Ohio, USA. Diebold is publicly traded on the New York Stock Exchange under the symbol 'DBD.' For more information, visit the company's Web site at http://www.diebold.com, or visit http://www.diebold.com/150 to learn more about Diebold's 150-year history.
Photo: http://www.newscom.com/cgi-bin/prnh/20080725/DIEBOLDLOGO
Source: Diebold, Incorporated
CONTACT: Media contact: Mike Jacobsen, +1-330-490-3796,
michael.jacobsen@diebold.com, Investor contact: Chris Bast, +1-330-490-6908,
christopher.bast@diebold.com
Web Site: http://www.diebold.com/
Change in tax provision related to disposition of U.S.-based elections systems business results in a higher loss from discontinued operations in 2009; EPS from continuing operations in 2009 remains $1.09, or $1.65 on a non-GAAP basis
NORTH CANTON, Ohio, March 1 -- Diebold, Incorporated (NYSE:DBD) today filed its annual report on Form 10-K for the year ended December 31, 2009, with the Securities and Exchange Commission.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080725/DIEBOLDLOGO )
As a result of finalizing the tax benefit related to the disposition of the company's U.S.-based elections systems business in 2009, the loss from this discontinued operation for the fourth quarter and full year 2009 is $15.6 million higher than what was reported in Diebold's unaudited earnings announcement dated February 3, 2010. This resulted in the diluted earnings per share (EPS) loss from discontinued operations being $0.23 higher than what was previously reported. Diluted EPS from continuing operations in 2009 remains $1.09, or $1.65 on a non-GAAP basis. This adjustment has no impact on the company's previously reported 2010 full-year revenue and EPS expectations.
The tax benefit was lower than originally expected due to a revision in the tax calculations associated with the disposition of the U.S.-based elections business.
Notes for Non-GAAP Measures (as previously reported)
Reconciliation of diluted GAAP EPS to non-GAAP EPS from continuing operations measures:
FY 12/31/09
Total EPS from continuing operations (GAAP measure) $1.09
Restructuring charges 0.27
Non-routine expenses 0.39
Non-routine income (0.12)
Impairment 0.02
Total EPS (non-GAAP measure) $1.65
The company's management believes excluding restructuring charges, non-routine expenses and income and impairment charges is useful to investors because it provides an overall understanding of the company's historical financial performance and future prospects. Management believes EPS (non-GAAP) from continuing operations is an indication of the company's base-line performance before gains, losses or other charges that are considered by management to be outside the company's core operating results. Exclusion of these items permits evaluation and comparison of results for the company's core business operations, and it is on this basis that management internally assesses the company's performance.
About Diebold
Diebold, Incorporated is a global leader in providing integrated self-service delivery and security systems and services. Diebold employs more than 16,000 associates with representation in nearly 90 countries worldwide and is headquartered in Canton, Ohio, USA. Diebold is publicly traded on the New York Stock Exchange under the symbol 'DBD.' For more information, visit the company's Web site at http://www.diebold.com, or visit http://www.diebold.com/150 to learn more about Diebold's 150-year history.
Photo: http://www.newscom.com/cgi-bin/prnh/20080725/DIEBOLDLOGO
Source: Diebold, Incorporated
CONTACT: Media contact: Mike Jacobsen, +1-330-490-3796,
michael.jacobsen@diebold.com, Investor contact: Chris Bast, +1-330-490-6908,
christopher.bast@diebold.com
Web Site: http://www.diebold.com/