***It sure doesn't seem to reflect the multi-millions of dollars that we all know they have made this year....... The MD contract for $55 milllion is just one example.
**And this SEC 10-Q (as of July 30, 2003), sure does reflect a SMALL company... sales at around 1/2 million dollars???
**I am not a finance wizard.....but this report doesn't seem to reflect the financial health of the company I know and love to hate.
**is there another holding company or something that we don't know about>?????
http://biz.yahoo.com/e/030808/dbd10-q.htmlAugust 08, 2003
DIEBOLD INC (DBD)
Quarterly Report (SEC form 10-Q)
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
As of June 30, 2003
(Unaudited)
(Dollars in thousands, except per share amounts)
Material Changes in Financial Condition
The company’s financial position provides it with sufficient resources to meet projected future capital expenditures, dividend and working capital requirements. However, if the need were to arise, the company’s strong financial position should ensure the availability of adequate additional financial resources.
Total Assets
Total assets as of June 30, 2003 were $1,710,965, representing an increase of $85,884 or 5.3 percent from December 31, 2002.
Short-term Investments
Short-term investments increased by $10,262 or 129.8 percent due to the combination of purchases of investments and reclassifications of long-term investments that will mature within the next year.
Trade Receivables
Trade receivables less allowances increased by $19,256 or 4.8 percent primarily due to increased security solutions revenue and increased service contract billings that occurred at the end of the quarter.
Inventories
Inventories increased $33,233 or 14.0 percent, as the company prepared to fulfill a large voting order with the state of Maryland, as well as positioned itself for third quarter business.
Goodwill
Goodwill increased by $33,987 or 12.7 percent. The increase in goodwill was due principally to the foreign currency translation impact on goodwill recorded in foreign currencies.
Current Liabilities
Total current liabilities were $542,408, representing a decrease of $19,743 or 3.5 percent from December 31, 2002.
Notes Payable
Notes payable decreased by $91,287 or 40.3 percent due to the net repayment of lines of credit through the use of cash generated from operations.
At June 30, 2003, the company had U.S. dollar denominated outstanding bank credit lines approximating $25,094, euro denominated outstanding bank credit lines approximating 87,643 (translated at $100,209) and Australian dollar denominated outstanding bank credit lines approximating 14,500 (translated at $9,669). An additional $246,204 was available under committed credit line agreements and $50,000 was available under uncommitted lines of credit.
**details and explanations for the report found at the above link**
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