Sept. 1 (Bloomberg) -- Diebold Inc. got off to a fast start in the voting machine industry. After almost 150 years of making safes, bank vaults, jailhouse doors and, more recently, automated teller machines, Diebold bought Global Election Systems Inc. and its AccuVote line of computerized voting terminals in 2002.
In a little more than three months, Diebold snared the biggest U.S. voting machine contract ever: a $54 million deal with the state of Georgia. ``It was successful beyond our wildest dreams, initially,'' says Diebold Chief Executive Officer Walden O'Dell, 59.
As the 2004 elections near, the euphoria has faded. Computer security experts at Johns Hopkins University in Baltimore and Rice University in Houston say Diebold's touch-screen voting machines are vulnerable to vote rigging; security concerns and operating flaws have led to a ban on their use in November in parts of California and Ohio.
Diebold's election system sales are headed for a second straight drop, to a company forecast of $75 million to $85 million, from $100 million in 2003 and $111 million in 2002.
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