Diebold Nixdorf Inc. improved its net income for Q3 despite a revenue decline, according to a recent earnings report.

Net sales dipped from $995.2 million in Q3 2020 to $958.2 million in the quarter ending Sept. 30, 2021.

Net loss improved from $100.9 million to $2 million in the comparative quarters, while GAAP diluted loss per share improved from $1.31 to 3 cents and non-GAAP EPS improved from 27 cents to 34 cents in the comparative quarters.

"Demand for our solutions remained robust in the third quarter as we continued to help our customers deliver more digital, flexible and effective self-service solutions for consumers," Gerrard Schmid, Diebold Nixdorf president and CEO, said in the press release. "Looking forward, we are seeing some moderation of supply chain constraints that gives us confidence for a strong fourth quarter and continued improvement in 2022."

The company's retail business included an expanded relationship with a multi-country retailer in central Europe featuring a rollout of self-checkout devices across 2,500 stores in 15 countries over the next three years. The company also secured a $16 million contract renewal with a global petrol convenience retailer's Southeast Asia operations.

On the banking front, momentum continued for the DN Series ATMs, with new systems live and certified in more than 60 countries. The company was awarded a managed services agreement in North America with a financial institution, including a large order of DN Series ATMs.

The company also continued to scale debit and credit platforms with its Vynamic Payments offering at 10 global banks across 17,000 ATMs.

The company also entered the electric vehicle charging station services business.

The $958.2 million in quarterly revenue missed analyst expectations by $81.8 million while the non-GAAP EPS of 34 cents missed expectations by 18 cents and the GAAP EPS of a 3-cent loss missed expectations by 36 cents, according to Seeking Alpha.

Shares traded at $8.68 today against a 52-week range of $6.30-$17.30.

The company revised its 2021 outlook and expects total revenue of $3.90 billion to $3.95 billion, which reflects approximately $120 million in revenue deferral from 2021 to 2022.

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