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Diebold Reports Second Quarter Financial Results

NORTH CANTON, Ohio July 27, 2011

Earnings overview presentation available at http://www.diebold.com/DBD2Q11.pdf

  • $.31 $.44
  • Total revenue for 2Q 2011 essentially flat compared with prior-year period
  • $44.4 million
  • North America
  • $2.00 to $2.20

$20.3 million $.31 $30.4 million $.46 $662.4 million

$.44 $.53

Business Review

Management commentary

Thomas W. Swidarski North America

$2.00 to $2.20*

Second Quarter Orders (constant currency)

Brazil North America India Southeast Asia Latin America Latin America

Orders by Solution (Q2 2011 vs. Q2 2010)

% Change

Financial self-service solutions

7%

Security solutions

-2%

      Total FSS & security

5%

Brazil election systems & lottery

-77%

Total Global Order Entry

-1%

Orders by Geography (Q2 2011 vs. Q2 2010)

% Change

Diebold North America

14%

Total Diebold International

-13%

Latin America (incl. Brazil)

-30%

Asia Pacific

18%

Europe, Middle East, and Africa

– 3%

Total Global Order Entry

-1%

Results of Operations

Profit/loss summary – 2nd  quarter comparison (Dollars in millions)

Q2 2011

Q2 2010

Rev

Gross

Profit

% of

Sales

OPEX

OP

% of

Sales

Rev

Gross

Profit

% of

Sales

OPEX

OP

% of

Sales

$662.4

$169.5

25.6%

$144.4

$25.1

3.8%

GAAP Results

$665.2

$178.1

26.8%

$131.3

$46.9

7.0%

2.8

(1.7)

4.5

Restructuring

0.2

(1.0)

1.2

(4.7)

4.7

Non-rout. Exp

(1.1)

1.1

Non-rout. Inc

0.1

(0.1)

(3.0)

3.0

Impairment

(4.1)

4.1

$662.4

$172.3

26.0%

$135.0

$37.3

5.6%

Non-GAAP Results

$665.2

$178.3

26.8%

$125.2

$53.2

8.0%

Profit/loss summary – year-to-date compari son (Dollars in millions)

YTD 6/30/11

YTD 6/30/10

Rev

Gross

Profit

% of

Sales

OPEX

OP

% of

Sales

Rev

Gross

Profit

% of

Sales

OPEX

OP

% of

Sales

$1,276.5

$318.9

25.0%

$284.9

$34.0

2.7%

GAAP Results

$1,284.2

$336.2

26.2%

$248.7

$87.4

6.8%

9.0

(7.3)

16.3

Restructuring

0.3

(2.0)

2.3

(10.5)

10.5

Non-rout. Exp

(1.1)

1.1

Non-rout. Inc

4.1

(4.1)

(3.0)

3.0

Impairment

(4.1)

4.1

$1,276.5

$327.9

25.7%

$264.2

$63.7

5.0%

Non-GAAP Results

$1,284.2

$336.4

26.2%

$245.6

$90.8

7.1%

The company’s management believes excluding restructuring charges, non-routine expenses/income and impairment charges from operating margins is an indication of the company’s baseline performance.  The exclusion of these items permits evaluation and comparison of results for the company’s core business operations and it is on this basis that the company’s management internally assesses the company’s performance.

Revenue

North America Latin America Brazil $46.2 million Africa Eastern Europe

Gross Margin

$2.8 million $0.2 million

Operating Expenses

$1.7 million $4.7 million $4.2 million $0.5 million $3.0 million

$1.1 million $4.1 million $1.0 million

Operating Profit

$37.3 million $53.2 million

Taxes on Income from Continuing Operations

$6.6 million

Income from Continuing Operations, net of tax (attributable to Diebold)

$20.3 million $3.8 million $3.0 million $1.9 million $3.1 million $0.8 million $0.9 million

Balance Sheet, Cash Flow and Liquidity

$149.7 million June 30, 2011 $184.9 million December 31, 2010 $44.4 million June 30, 2010 June 30, 2011 December 31, 2010 June 30, 2010

$100.0 million June 30, 2011 $82.5 million June 30, 2010 $22.6 million $45.5 million

$36 million June 30, 2011

Restructuring and non-routine expenses and income

$3.8 million $0.06 $0.9 million $0.01 North America $.31 to $.35

Foreign Corrupt Practices Act review

As previously disclosed, Diebold continues to conduct a global internal review of its compliance with the FCPA. The company excludes costs related to this review from its non-GAAP operating results as it provides a better overall understanding of the company’s historical financial performance and future prospects. Diebold cannot predict the length, scope or results of this review or related government investigations, or the impact, if any, on its results of operations.

Full-year 2011 outlook

The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially. These statements do not include the potential impact of any future mergers, acquisitions, disposals or other business combinations.   Expectations for the full year 2011 are as follows:

  • Revenue

Previous Guidance

Current Guidance

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