Revenue during the quarter surged 116.41 percent to $1,102.80 million from $509.60 million in the previous year period. Gross margin for the quarter contracted 525 basis points over the previous year period to 21.99 percent. Operating margin for the quarter stood at negative 4.41 percent as compared to a negative 1.12 percent for the previous year period.

Operating loss for the quarter was $48.60 million, compared with an operating loss of $5.70 million in the previous year period.

However, the adjusted operating income for the quarter stood at $41.70 million compared to $8.60 million in the prior year period. At the same time, adjusted operating margin improved 209 basis points in the quarter to 3.78 percent from 1.69 percent in the last year period.

“The transition to Diebold Nixdorf is complete; now, we truly begin our long-term transformation with the DN2020 program we launched during the quarter,” said Andy W. Mattes, president and chief executive officer, Diebold Nixdorf. “From a market perspective, I’m especially encouraged by the solid sequential growth in systems orders and backlog we generated during the period. This is a good indication that our sales engine is gearing up after the breaking-in period of our new company in the second half of last year."

Diebold projects revenue to be $5,000 million for financial year 2017. For financial year 2017, Diebold projects net loss to be in the range of $75 million to $50 million. For fiscal year 2017, the company expects diluted loss per share to be in the range of $0.95 to $0.65. For fiscal year 2017, the company expects diluted earnings per share to be in the range of $1.40 to $1.70 on adjusted basis.

The company has spent $29 million cash to meet investing activities during the quarter as against cash inflow of $351.30 million in the last year period.

The company has spent $72.40 million cash to carry out financing activities during the quarter as against cash outgo of $247 million in the last year period.

Cash and cash equivalents stood at $490.10 million as on Mar. 31, 2017, up 60.90 percent or $185.50 million from $304.60 million on Mar. 31, 2016.

Working capital increases
Diebold Nixdorf Inc has recorded an increase in the working capital over the last year. It stood at $755.30 million as at Mar. 31, 2017, up 8.29 percent or $57.80 million from $697.50 million on Mar. 31, 2016. Current ratio was at 1.41 as on Mar. 31, 2017, down from 1.70 on Mar. 31, 2016.

Cash conversion cycle (CCC) has decreased to 50 days for the quarter from 113 days for the last year period. Days sales outstanding went down to 54 days for the quarter compared with 82 days for the same period last year.

Days inventory outstanding has decreased to 40 days for the quarter compared with 96 days for the previous year period. At the same time, days payable outstanding went down to 43 days for the quarter from 65 for the same period last year.