LONDON, UK / ACCESSWIRE / July 25, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Diebold Nixdorf, Inc. (NYSE: DBD), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=DBD, following the Company's announcement of its financial results on July 19, 2017, for the second quarter fiscal 2017 (Q2 FY17). The North Canton, Ohio-Based Company reported a 12.1% y-o-y growth in its pro-forma GAAP net sales; in-line with market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
http://protraderdaily.com/register/
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on DBD. With the links below you can directly download the report of your stock of interest-free of charge at:
http://protraderdaily.com/optin/'symbol=DBD
Earnings Reviewed
In Q2 FY17, Diebold reported GAAP net sales of $1.13 billion, up from $580.0 million recorded at the end of Q2 FY16. The Company's pro-forma GAAP net sales were $1.13 billion in Q2 FY17 compared to $1.29 billion in Q2 FY16. The Company GAAP net sales numbers for the reported quarter met market expectations.
The maker of bank teller machines reported Q2 FY17 GAAP net loss attributable to Diebold of $30.6 million, or $0.41 loss per diluted share, compared to GAAP net loss attributable to Diebold of $21.1 million, or $0.32 loss per diluted share, in Q2 FY16. Meanwhile, the Company's non-GAAP net income for Q2 FY17 came in at $0.08 per diluted share compared to $0.43 per diluted share in Q2 FY16. Market analysts had forecasted non-GAAP diluted earnings of $0.06 per share for Q2 FY17.
Operating Metrics
For the three months ended June 30, 2017, the company reported GAAP gross profit of $237.8 million, or 21.0% of GAAP revenue, versus $155.1 million, or 26.7% of GAAP revenue, in the prior year's comparable quarter. The Company reported operating loss during Q2 FY17 came in at $30.1 million versus operating profit of $10.3 million in Q2 FY16. Diebold spent $236.8 million on selling and administrative expenses in the reported quarter, which came in higher than the $127.3 million spent in the year ago same period. Furthermore, adjusted EBITDA for Q2 FY17 came in at $73.8 million, or 6.5% of net sales, compared to $53.9 million, or 9.3% of net sales, in Q2 FY16.
Segment Performance
During Q2 FY17, Services GAAP revenue grew 76.0% y-o-y to $580.2 million from $329.6 million in the year ago same period. Diebold's software revenues surged to $107.7 million in Q2 FY17 from $30.6 million in Q2 FY16. Systems' segment reported revenues of $446.0 million in Q2 FY17 compared to $219.8 million in the prior year's corresponding quarter.
Geographic Regions
In Q2 FY17, revenues from Americas were $390.3 million compared to $388.0 million in Q2 FY16. EMEA regions contribution to total revenues surged to $587.5 million in Q2 FY17 from $106.5 million in the last year's same period. Furthermore, revenues from Asia/Pacific region increased to $156.1 million in Q2 FY17 from $85.5 million in Q2 FY16.
Solution Wise
Diebold's banking solution's revenues were down by 11.7% in Q2 FY17 to $1.66 billion from $1.88 billion in Q2 FY16. Meanwhile, retail solution's revenue increased to $573.2 million in Q2 FY17 from $559.3 million in the prior year's comparable quarter.
Cash Flow & Balance Sheet
For the three months ended June 30, 2017, Diebold used $119.4 million in its operating activities compared to $89.9 million in Q2 FY16. The Company reported negative free cash flow of $133.7 million in Q2 FY17 versus negative free cash flow $96.5 million in the previous year's same quarter.
The Company had cash, cash equivalents, and short-term investments balance of $528.2 million, as on June 30, 2017, compared to $716.8 million at the close of books on December 31, 2016. Furthermore, the Company ended the quarter with net debt of $1.37 billion compared to $1.08 billion as on December 31, 2016.
Outlook
In its guidance for full year FY17, Diebold expects total revenues to be in the range of $4.7 billion to $4.8 billion. Net loss attributable to Diebold for FY17 is projected to be in the range of $125 million to $110 million. Meanwhile, adjusted EBITDA for full year FY17 is anticipated to be between $360 million and $380 million.
Stock Performance
At the close of trading session on Monday, July 24, 2017, Diebold Nixdorf's stock price climbed 1.62% to end the day at $22.00. A total volume of 1.08 million shares was exchanged during the session. The Company's shares have a dividend yield of 1.82%. At Monday's closing price, the stock's net capitalization stands at $1.74 billion.
Pro-Trader Daily:
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: contact@protraderdaily.com
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Inst
SOURCE: Pro-Trader Daily
