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Economy and Business


Diebold is expected to reveal more plans today
Growth in security systems and monitoring may be highlighted along with other ways to streamline operations
by WKSU's M.L. SCHULTZE


Web Editor
M.L. Schultze
 
In The Region:

Diebold is expected to reveal a bit more about its future at a conference in New York today. WKSU’s M.L. Schultze has more on the questions that may be answered.

LISTEN: Previewing Diebold

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During its third-quarter earnings call two weeks ago, Diebold acknowledged its losses in 2013, promised investment in 2014 and projected profits in 2015.

Last week, the company announced a partnership with IT companies Infosys and Oracle to help streamline supply chain and financial operations. 

Today, Diebold is expected to add a lot of detail to all of that during what it calls its “investment community conference.”

CEO Andy Mattes, who took over the troubled Green-based company in June, confirmed to one analyst during the earnings call that sales of commercial security systems are a growing part of Diebold’s business and that ongoing contracts to monitor those systems is a big area of growth. 

“You’re spot on. That’s exactly where we’re going. Now as you know these are longer sales cycles. It’ll take time before these things show up on the revenue side, but we’re very heavily focused on generating a bigger backlog on recurring monthly revenue and we’re encouraged with the early results by what we’re seeing so far."  

Diebold makes ATMs and security systems. Last fall, it announced it was suspending plans to build its new world headquarters in Green, and this spring announced it is eliminating 700 jobs as part of the move to cut $150 million in costs worldwide.

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