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Company will manage Postal Service security
By Jim Mackinnon
Beacon Journal business writer
Published on Thursday, Sep 11, 2008
Diebold Inc. is going Postal, and that's going to be good for the Green company's bottom line, its top executives say.
Diebold will install and manage the United States Postal Service's new high-tech video security system at more than 40,000 sites nationwide.
The three-year contract, which begins at the end of this year and could be renewed for up to 12 years, has the potential to bring in millions of dollars to Diebold, a company spokeswoman said. Specific financial terms of the contract were not released Wednesday.
The announcement came the same day Diebold hosted an industry analysts conference at the New York Stock Exchange. Company executives said Diebold is on schedule to release corrected financial statements this month — and also remains on track in meeting strategic goals first outlined two years ago.
Diebold hopes to use the Postal Service agreement to leverage similar deals with other customers, the executives said at the New York conference.
The contract with the Postal Service demonstrates Diebold's continued evolution into a high-tech services company instead of being perceived as a maker of automated teller machines, electronic voting machines and safes, the executives said.
''This is really cutting edge,'' said Dennis Moriarty, Diebold senior vice president, global security.
The new video surveillance system will be used by the Postal Service to monitor its locations from anyplace that has an Internet connection. The system will be used to fight burglaries, robberies and other security-related crimes, Diebold said in its announcement. Diebold has been providing security services and products to the Postal Service since 1859, the company said.
Kevin Krakora, Diebold's chief financial officer, said the company is on target to file corrected financial statements with federal regulators this month.
After an investigation, the federal government told Diebold it needed to change the way it recognizes revenue; the company has since changed its accounting practices.
Jim Mackinnon can be reached at 330-996-3544 or jmackinnon@thebeaconjournal.com.
Diebold Inc. is going Postal, and that's going to be good for the Green company's bottom line, its top executives say.
Get the full article here.
Comments
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Akron, OH
Posted 04:41 AM, 09/11/2008
Business analysts in the area have stated that Diebold has many issues. We hope this is the beginning of a new era for them.
Las Vegas, , Nv
Posted 11:48 AM, 09/11/2008
Only 1 comment here, Bruce...
Sterling, Oh
Posted 02:48 PM, 09/11/2008
Diebolt workers getting contract enabling them to pay for everything they use for life with wages. Will bring The USA back into compliance with realities demands.