Please standby. We’re about to begin. Good day, everyone and welcome to the Diebold Incorporated Second Quarter Financial Results Conference Call. Today’s call is being recorded. At this time, for opening remarks and introductions, I would like to turn the call over to the Vice President and Chief Communications Officer, Mr. John Kristoff. Please go ahead, sir.

Thank you, Christine. Good morning and thank you for joining us for Diebold’s second quarter conference call. Joining me today are Tom Swidarski, President and CEO; and Brad Richardson, Executive Vice President and CFO. Just a few notes before we get started. In addition, to the earnings release, we’ve provided a supplementary presentation on the Investor page of our website. Tom and Brad will be walking through this presentation as part of their comments today, and we encourage you to follow along. Before we discuss our second quarter results as of past calls, it’s important to note that we have restructuring impairment and non-routine income in our financials. We believe that excluding these items gives an indication of the company’s baseline operational performance. As a result, many of the remarks this morning will focus on non-GAAP financial information. For a reconciliation of our GAAP and non-GAAP numbers, please refer to the supplemental material at the end of the presentation. In addition, all results of operations reported today including prior periods exclude discontinued operations. Finally, a replay of this conference call will be available later today from our website. And as a reminder, some of the comments today may be considered forward-looking statements. Internal and/or external factors could significantly impact actual results, as a precaution, we refer you to the more detailed risk factors that have previously been filed with the SEC. And now, with opening remarks, I’ll turn the call over to Tom.

Thanks, John. Good morning, everyone. As you’ve seen this morning, we once again delivered solid core operating results during the quarter despite a market environment that remains challenging. I’m very proud of the continued efforts of our associates around the world. Diebold is successfully maintaining leading market position to gaining increase traction and others. Our focus on customers is the core competency. It will continue to help us prevail in a challenging and competitive marketplace. I’m particularly encouraged by the sustained improvement in the profitability re-driving in our services business. Diebold’s key value proposition lies in our ability to deliver unmatched service support and software solution that surround our security and financial self-service offering. A perfect example of the value our customers placed on this element can be found on our recent announcement with U.S. bank. In May, we announced our partnership with the bank for our Agilis EmPower ATM Software Solution. A multi-vendor software application that will run across the bank’s expanding ATM network. We developed a custom software solution for the bank built on our cross-vendor Agilis EmPower application. As we rollout this solution to U.S. bank, we will achieve a milestone – more than 500,000 ATMs around the world running Agilis software and cross-vendor framework components. We’re now for another key accomplishment earlier this week, the International Quality and Productivity Center awarded as a Call Center Excellent Award for deploying innovative call center solutions for rapid response, for customer inquiries and service needs. The Call Center Excellent Award honor the individuals and companies’ whose focus on customer service and efficiency that are setting the standards in their industry. Recognition such as this is not indicative not only of the investment we’re making to raise the bar for our customer service expectation, but also of our ongoing commitment…

Thank you very much, Tom and good morning, everyone. There are a number of key topics I’d like to discuss this morning. First, I’ll come in on our revenue picture for the quarter and full year, and then discuss our strong growth margin performance. I will speak to our working capital and balance sheet and then walk you through the details behind our guidance assumptions for the remainder of 2010. Finally, I’ll discuss our financial control environment including the voluntary disclosure in our release this morning regarding FCPA compliance. Let’s turn to our financial results. I’d like to refer to slide 12, which focuses on second quarter revenue. Total revenue was $665 million down 4% from the second quarter of 2009 or 7% on a constant currency basis. For the quarter, product revenue dropped 8% primarily in North America and EMEA. In the North America, the completion of large financial self-service deployment by major national banks created a very challenging comparison. In EMEA, a large scale branch transformation project in Belgium in the prior year period also created a tough comparison. Service revenue was essentially flat with performance in international markets particularly Asia Pacific offsetting a reduction in installation revenue as a result of lower product sales in North America. Looking at our financial self-service business on slide 13, second quarter revenue was $469 million down 12% from the second quarter 2009. This decrease was mostly attributable to the drop in product revenue in North America and EMEA. In the security business on slide 14, second quarter revenue decreased $3 million or 2% from the same period in the previous year. This decrease was due primarily to continued weakness in the U.S. financial market especially in the segment of our business, which relied heavily on new bank branch construction, which…

Thanks, Brad. Christine will now open the call up for questions.

Thank you, sir. (Operator Instructions). Our question comes from Kartik Mehta from Northcoast Research. Your line is open. Kartik Mehta – Northcoast Research: Thank you. Good morning, Tom and Brad. I wanted to ask you a question, Tom, you said about a regional bank spent in the U.S. is increasing. I know last year the market was probably down significantly and if you compared 2010 to 2009, what kind of market increase would you anticipate this year out of the regional and community banks?

Hey, Kartik, you’re talking about total revenue comparison or I mean orders or – Kartik Mehta – Northcoast Research: Yes, I guess I meant revenues. I guess I’m trying to relate it to how the overall market looks.

Yes. Kartik Mehta – Northcoast Research: And I’m assuming the overall market should be similar to what you would witness.

Yes. So, I think as we take into kind of in its entirety, you have two factors slaying out here. One is security, we’re tapping with security in the regional bank space and the other is self-service. So, on the security side, we’re still challenged in the regional bank space with branch builds from 4,500 level to 1,500, we’re expecting that to continue. So, with such, first part 2009 has some benefit still built in from the security side of the business and really this year, I think the expectations or that’s going to be kind of at the constant level of 1,500 going forward. Self-service is a stronger story and we’re starting to see – as I mentioned deposit automation activity, the first and the second quarter both significantly improved from last year both in terms of revenue and in terms of orders. But, again, they were relatively weak last year as a result of what happened with the financial reform and the assessment that people received in February. So, it’s encouraging and certainly the order entry is encouraging at the regional space compared to quarter over quarter. As I said, first quarter was the highest it had been five or six quarters and this quarter continued. But, again, it’s early stages, I think measured kind of improvement here and we expect this deposit automation trend to continue, but I think it’s a long-term moving train and again, I think we’re cautiously optimistic that we’re starting to see some real signs of life here in the regional space. Kartik Mehta – Northcoast Research: And then just a second question and Tom, your EPS guidance for 2010. Why not raise the high end considering you just received the extra Brazilian election order? Is there something else that’s happening in a couple of the other businesses that just are – as a reason for not increasing the high end?

No. I think, Kartik, from our standpoint, it’s kind of a measured view of where we’re at. We certainly have some signs of optimism by the same token. You still have a lot of headwinds in terms of banks that are still closing in the United States. I mean the financial crisis that has hit; the financial reform that’s out there again creates a little bit of uncertainty when we thought what could be more clarity here. And those certainly impact us and as we look forward in terms of North America and the other regions, while you see optimism happening to regional bank space here in the U.S. You see that the three major players where you won’t be seeing activity and then you have, for us, EMEA, which is – while we were happy to get some of the order we did in July, EMEA is an area where kind of across the board. We still have a long way to go to get the competitive position we’re in and enjoy in Latin America or Brazil and in America. So, I think with that all weighed together, we’re feeling like it’s not appropriate at this time. Kartik Mehta – Northcoast Research: Thanks, Tom, I appreciate it.

You’re welcome.

And our next question comes from Reik Read with Robert Baird & Company. Your line is open. Reik Read – Robert W. Baird & Company, Inc.: Hey, good morning. Could you guys just talk a little bit on the service margin side of things? Brad, as part of your comments you talked about 26% for the year. Now, that you are at that level, do you think getting back to the 2002 levels of 28, 29% is doable? And can you talk a little bit about how the expansion of the international markets, particularly China and India, might impact that, and then also the integrated services component of that?

Reik, I’ll start with that and maybe Brad can fill in certain aspects. But certainly for us, when I think of service and services, it’s kind of the key strategic battleground or platform that we differentiate ourselves on, so that the progress we’re seeing were encouraged by it. If you go back a few years, we’re at the 80 to 90% level and now, coming into the year our expectations were in the 25% and now we think we could really achieve 26. The second quarter has some unusual benefit in it, so I think the numbers above 27, but we don’t expect that to be kind of the real run rate. The real run rate is closer to 26% level. So, the improvement is measured. Its part productivity improvement, part cross-sell, part a stable pricing environment and all those variables will have to remain intact. So, we see continued improvement there. Mixing in integrated services and again, we’ve got the beginning stages of success there, it helps that, but, I can’t see 28% right now. But I certainly would think as we reset new goals and think about 2011, ‘12 and ‘13, my expectation is we’re going to achieve near 26 this year and we’re going to be pointing towards 27 over the next 18 months after that. But I want to make sure we hit 26 this year that would be a market improvement over the past several years. And again, as the integrated services ramps up, it gives me expectations that we practically can continue to walk this up and it helps certainly offset the fluctuations we have in product gross margins. So, for us, it’s the quality of earnings, it’s the stability of the recurring revenue and we are going to make sure that the business we take there is accretive. So, there are – our cases when you look at certain contractors, certain environments where we’ve walked away. But I think overall we’re really happy with both the revenue side of the picture on service, in-services as well as the margin side.

Tom, I’ll just add one more point.

Yes.

Which is part of Reik’s question, which again I think your question Reik was also how the international mix might impact this. And certainly again that’s been another enabler, if you will because of the quality of our international service business, if that continues to expand that also gives us the additional ability to grow our overall service gross margin overtime. Reik Read – Robert W. Baird & Company, Inc.: Does it have a near-term impact, Brad, one way or the other? Or is that just slow and steady, and it just increases over time?

I would absolutely kind of leave you with the impression, which I think Tom did too, of slow and steady over time. Reik Read – Robert W. Baird & Company, Inc.: Okay. And then could you guys maybe just comment on the international opportunities out there? I mean China has historically not used much of a national service presence. They seem to be more concerned about uptimes. Can you talk about what that may be leading to you guys in terms of growth opportunities?

Yes, certainly. It clearly differs by region of the world, but certainly you picked a big country in terms of China, where our service presents or presents of the OEMs is much lower than most other developed countries. Again, I see that long-term as opportunity. Short-term is – those are not big opportunities during the short-term, but that’s a slow ship that’s going to turn over time, which I think puts it squarely in our sweet spot that we think we’ve got opportunities there. But in that case, I view that as much more demand creation than it is in other parts of the world. Though China’s with the installed base, it’s growing there. We’ll provide huge opportunity relative to service, but it’s very small right now and small comps that’s why your percentages couldn’t be exciting. But really it’s still very, very small based, but we’re working hard there – Thailand, India, Indonesia, all those growing countries because we do think long-term, they will end up with a model that’s much closer aligned to North America and Western Europe, where they’re looking for the most efficient, most effective way to get there. Right now, they use brute force of internal manpower to do it, and I see that change, but that’s a long haul change. Reik Read – Robert W. Baird & Company, Inc.: Great. Thank you, guys.

Thanks, Reik.

And our next question comes from Matt Summerville with KeyBanc. Your line is open. Matt Summerville – KeyBanc Capital Markets: Good morning. A couple of questions. First, Tom, can you maybe comment on the magnitude of order growth you’ve seen in July and what the year-over-year comparison looked like? I guess I’m trying to get a sense for kind of what’s really changed outside North America. It sounded like EMEA and Asia-Pac driving that in the last 30 days.

Yes. I think a couple of things. One is a lot of it had to just do with timing and when they may occur. So, something occurs the first part of July, could’ve been in June and all of a sudden your order picture looks different in a quarter. So, in the EMEA case, there were a couple of small order and a major order that just happened in July. I also attribute that somewhat to the fact that in August, there’s going to be no activity even in the EMEA region or a lot in Europe doesn’t really have their heads down in August. In Asia’s case, it was expectations. We’ve known the second half of the year really was – Asia was going back to more historic seasonality and we were just happy that we got this confirmation here in July rather than further our in – again, it gives us – both of those give us confidence relative to both the revenue and EPS guidance for the remainder of the year. But I think EMEA was much more timing in terms of June decisions happening in July and Asia Pacific was much more second half of the year decisions that came early in second half, which bode well for us. Matt Summerville – KeyBanc Capital Markets: Sticking with Asia, you were flat in the first quarter, up 8 in the second quarter. Still talking about single digit growth this year against low single digit growth in ‘09. How does that kind of reconcile with the strength you’re seeing in the back half of the year there, I guess? Why isn’t the outlook for Asia more robust than single digit?

Yes. I think some of that has to do with certain contracts that occurred last year that certain institutions won’t be ordering this year. So, for us the comps going to continue to get tougher as we go forward, but based on the opportunities we see out there and how we think we’re positioned there, we think, again, the second half is going to bode well and being up single digits is going to be solid performance there for us this year. Again, because we don’t have the large service reoccurring revenue base there like we do in maybe North America, it becomes much more of a product focus type of revenue gain and it that case, you’re depending on whose letting out what orders, you’ve got much more lumpy kind of scenario. But, I think we’re satisfied with our outlook here at Asia for the remainder of the year and as we get possibly surprise, that would be great, but we’re pretty confident what we can deliver. Matt Summerville – KeyBanc Capital Markets: And just one more question, I’ll get back in queue. With regards to, Tom, I think you mentioned it a moment ago and Brad mentioned it in his prepared remarks. Kind of an unusual one time – whatever the right term is – benefit you saw in the service business in the quarter. How much was that in dollars would you say?

I think – Matt, let me respond to that. I mean roughly we saw about a percentage point benefit in our service margin from base, fleet rebase as well as some other items. So, a percent on, what equate to a little over $3 million. Matt Summerville – KeyBanc Capital Markets: Thanks, Brad.

And our next question comes from Paul Coster with JP Morgan. Paul Coster – JP Morgan: Yes. Thank you for taking my question. Tom, in your prepared remarks you said in the second half of the year your margins will probably come down a little bit owing to a shift towards sales, international accounts. How do we – first of all, have I got that right? And secondly, does that – how does that reconcile with the fact that the national accounts seem to have largely played out?

So, a couple of things there. The product margins certainly in the first half of the year, the second quarter were impacted a lot by the regional bank activity here in the U.S. Part of the issue in terms of product margins, the second half of the year in the U.S., we will have besides the big three, there’s a lot of other large strategic accounts here in the U.S. There’s going to be activity in those that impact kind of our outlook for margins. And then secondly, the international ones based on the orders that we have taken in July, we’re pretty clear in terms of – that the margins were below what we enjoyed here in the second quarter. So, I think we’ve got pretty good visibility in terms of the impact relative to those product gross margins both in the U.S. and also the international orders that we have coming. Paul Coster – JP Morgan: Got it. Okay. And then the enterprise security businesses are a bit opaque to many of us. Can you just give us a little bit of a sense of the size of the deals, how long it takes to land a deal, what the duration of the contract is, and any other color that you think will help us kind of get a grasp on this business?

Sure. The way I would – maybe first let me describe enterprise security, so everyone has a similar understanding. Historically, Diebold did a lot of security business in small retail outlets like bank branches and other things that look like bank branches and we monitor those and we put in, physical and electronic security into those type of environments. We made an acquisition several years ago, where we wanted to take our capabilities to what I would call is much more critical infrastructure type facilities and whether that be high-rise buildings in New York City or court authorities and water treatment facilities, but it’s a much more sophisticated type of security capability that needs to be delivered. So, as such, when we talk about reorganizing our security group outside the bank space, we basically said for government, retail and this commercial critical infrastructure group. We have a sales organization and we have designed infrastructure piece there, and that’s helping us in that regard. So, many of these are large orders. The one I referred to in terms of the European bank that build a headquarter here in the U.S.; these are $3 to 4, 5-million type of projects. So, that would include 30 or 40 or potentially 50 floors of security type of capabilities designing it and then putting a monitoring center right in the facility. This one is sophisticated enough that when you put your access control, so you have badge to get into different floor, but also points you to certain elevators. So, right when the software and tying all that together, each of these is unique, but the skill set of project management, of implementation fits into our capability and the acquisition we made relative to this organization three or four years ago, were much better able…

Well, on the last call, I was indicating that there was some expectation that we would see some additional business in 2011. the order that they recently placed in 2010, I was a little bit surprise by that, our expectation was that was going to happen next year, and while it may not completely come to a close because they still can order an additional 30 or 40,000 units from the regional RFP, the comparison will be much larger now in terms of what we delivered this year in terms of review as in terms of next year. While we don’t have any confirmation of that, the fact that they ordered this year takes a lot of what we thought could happen in 2011 off the table. So, we’ll be working with them closely. There’s no guarantee on this, but certainly the gap will be much larger than maybe we anticipated on the last call. Paul Coster – JP Morgan: Great. Thank you.

Yes.

And our next question comes from Gil Luria with Wedbush Security. Your line is open. Gil Luria – Wedbush Morgan Securities, Inc.: Thank you. First, just to wrap up that point, so if this year195,000 units, $130 million, by most estimates about $0.30 a share this year, what you’re saying is that next year, at most it will be a quarter of that size just because of what’s left on the order?

Yes, Gil. I think that’s excellent math, and again, while there’s no guarantee in terms of them ordering the additional units, our thought was originally that – our thought was originally there would be a lot more revenue opportunity. Now, we’re thinking the revenue might be in the neighborhood of $25 to 30 million for next year, so a big difference from Q1 or from our last call. Gil Luria – Wedbush Morgan Securities, Inc.: Great, thank you. Then in terms of operating expenses, in our presentation is says that year-to-date operating expenses are flat, excluding currency. Does that mean that we’re no longer getting gains from Smart Business, or does that mean that we’re taking all those gains and reinvesting them in the business?

Yes. (Inaudible). Gil, I was just going to respond to that. It’s certainly I would just remind you some of the SB 200 does come through the operating expense line, but also majority of it comes through the cost of goods sold lines, so I just kind of remind you on that. But, I think you are right from the standpoint of the reinvestment and we signaled and certainly, I’ve covered on the slide that we also had signaled that part of the savings that we have had from some of the reduction in sports (ph) activity is being reinvested back into our R&D activity.

I think also on the slide, when you look at it, Gil, you’ll see that our expectation for the second half of the year, the percentage changed dramatically. I think for the full year, we’re talking in the – with a 17.5%.

Right. What they had is revenue. I mean –

Yes.

Certainly, we’ll be in the low 16% OpEx as a percent of revenue in the second half that’s giving us the mid-17.5% for the full year that Tom just mentioned. Gil Luria – Wedbush Morgan Securities, Inc.: Got it. And then just on the – to ask another question a little differently about the U.S. regional banks and the U.S. market, could you give us the cut of year-to-year expectations for the year for just for the financial self-service business, just in the U.S.? Are the U.S. regional – is the new pickup in U.S. regional bank activity enough to offset the business that you had last year from the larger banks?

Okay. So, your question is with the large bank slowing down are the regionals able to kind of fill that bucket. Is that in essence, Gil (ph)? Gil Luria – Wedbush Morgan Securities, Inc.: Yes, just a year-over-year revenue comparison financial self-services in the U.S., 2010 versus 2009.

Okay. It’s a regional space? Gil Luria – Wedbush Morgan Securities, Inc.: Total U.S.

Total U.S.

So, in essence, from the total we will probably down slightly from a revenue standpoint year-over-year, which I think when you mix it all together suggest that the regional bank performance is going to be pretty strong and we’ve experienced that the first of the year both in terms of revenue and in terms of orders, and we expect that to continue into the second half but not completely offset the large three in terms of revenue. But certainly, the flip side of that story is that’s a good story on the regional side plus you see the benefit from the margin expansion. Gil Luria – Wedbush Morgan Securities, Inc.: Got it. Thank you.

And our next question comes from Michael Saloio with Sidoti & Company. Your line is open. Michael Saloio – Sidoti & Company: Hi, thanks for taking my question. Tom, I was wondering if you could quantify a little bit about the type of growth you possibly saw in integrated services in the quarter? I think last quarter you mentioned that you had added about $20 million in revenue to the $100 million you had in remaining contract value, if I’m understanding that correctly. Could you give us an update there?

Yes. I would say that again I’m pretty pleased with the response that we saw, similar growth in this quarter. Well, and that the level of activity that’s occurring relative to integrated services is complimentary to what’s happening in deposit automation. So, I would expect that trend to continue on a regular basis and possibly begin to ramp up as more of the smaller institutions getting involved in integrated services or look at PCI compliance and security issues that kind of leads them right to an integrated source solutions offering. So, for this quarter, it’s very much like it was in Q1. Michael Saloio – Sidoti & Company: Okay. And secondly, still seeing good order growth in Latin America, even excluding Brazilian elections. Could you give us a sense of how margins are holding up? In particular, in Brazil with some of the increased competition you’re seeing there now?

Yes. I think the – our margins are the same in Brazil – they’ve had been historically. As I mentioned, (inaudible) either pick most customers but because of the – kind of our large relationship there and the unique capabilities of what banks are looking for – I mentioned the Palm Vein, simply because no one else in the world was able to kind of accommodate that. So, we work with them, develop that and then they’ll deploy that across their whole network. So, it’s that uniqueness that allows us to maintain, I think, a pretty solid competitive position relative to the Brazilian competitors and others that are in that market as well. Michael Saloio – Sidoti & Company: Okay. Thanks.

And our next question comes from Reik Read with Robert W. Baird & Company. Your line is open. Reik Read – Robert W. Baird & Company, Inc.: Just a quick point of clarification on Asia. When you were talking about single digit growth, was that for the year or for the back half of the year?

No, that’s for the full year. Reik Read – Robert W. Baird & Company, Inc.: Okay. And then if I could just go back and follow-up on the integrated services. Can you tell us what the remaining total contract value is for all of the integrated services at this point?

I’m not sure I have that right in front – maybe we’ll take that one offline so we get that correct. And the way we do that in terms of total contract value and mostly either five-year contracts, in essence, you’ll see about 40% of the revenue year one. So, I’d have to go back and look at the previous years to make sure I’m giving you the information correctly. But, in essence, if every contract is spread over five years and you get 40% in year one, then you’re looking at the remainder from a services standpoint over those subsequent years or so. To cut it to your point, as we move in the business it gives us more and more recurring revenue and outlying years, and at some point it starts becoming meaningful number. We’re still at the early stage of there, but I don’t think I have an exact number to kind of (inaudible) – Reik Read – Robert W. Baird & Company, Inc.: I can follow-up, Tom.

Okay. Reik Read – Robert W. Baird & Company, Inc.: And just – I guess a follow-up off of that. I mean you’ve got this nice set of offerings that you’ve created, and you’ve pretty much talked about that being focus on a lot of the smaller banks. Are you finding any larger banks are interested in a portion or all of those offerings?

Yes. I’m – I guess more than pleasantly surprise in that regard in that the – in essence, we’ve built and through Brazil and through our efforts development in the U.S. in deploying this that basically the infrastructure that we’re building, the ability to manage, operate, comply, security, all the aspects of managing a complex network and being able to take cost out, we’ve had more than a few of the very largest bank in the world taking a look at this. And I wouldn’t be surprise in the next six to nine months that several want to actually begin thinking about deploying some of the aspects of this. So, again, it’s surprising in that regard that that wasn’t the intent, but we’re really happy with the robustness of the solution when they compare to everything else in the marketplace. By the same token, that’s infrastructure is what we’re using for all of the folks that we would manage their network for them. So, it would cause us to rethink whether we can manage every network because every (ph) bank doesn’t want that, but our goal was to manage it from a services standpoint. We may find ourselves creating some product out of this that we sell and let people utilize themselves. So, we’re working our way through that but it’s a result of interest expressed. Reik Read – Robert W. Baird & Company, Inc.: So that’s not necessarily a real near-term opportunity, but the trend is that in 2011 you probably see more of that than you otherwise might?

Yes. I think that – that I think that’s right. Reik Read – Robert W. Baird & Company, Inc.: Okay. Great, thank you.

And our last question comes from Matt Summerville from KeyBanc. Your line is open. Matt Summerville – KeyBanc Capital Markets: Just a follow-up question on your – just your ATM strategy in Europe. You’re obviously a distant third player. You have a strong presence in France, Italy, Belgium, maybe some other areas. You recently kind of withdrew a more direct presence from Germany. I’m not sure kind of how this FCPA thing changes your strategy with regards to how you build out Russia. But, I guess as you think about Europe longer term, do you re-engage some of the tier one markets like Germany and the U.K. where you don’t have a big presence right now? And I guess kind of going forward, how does this change your strategy with Russia, if at all?

Okay. So, I think, Matt, we absolutely reengage in certain select markets where we think we have offerings that can differentiate us. Some of those offerings are more services oriented than they are kind of a product. So, you mentioned some of the countries, some additional ones like Turkey and parts of Africa and the Middle East are critical ones. So, we’ve got pretty solid presence in certain areas. Spain, we have a presence, we don’t have enough of a presence. So, Spain is an area, I think that’s strategically important because those banks influence what’s happening in Latin America and those banks are the ones we engage with through Latin America, but we don’t do a lot of business in Spain. We expect to change that in the coming years. U.K. is certainly a target country for us to gain traction in and move in there. Again, I don’t view moving in their in terms of trying to give them a cheaper ATM because they’ve got ATM suppliers. I look at unique things we could do either on the software side or some combination of managing a network to solve a problem that no one else has been able to solve there. So, we’re going to approach each of those slightly differently. But, we have – we’re going to be up in revenue in Europe this year, and we’ll do $450 million, so we do have a solid presence it’s just certain markets we don’t have the infrastructure there yet, but we’ll be building that overtime. So, yes, we are investing in EMEA. As far as Russia and Eastern Europe, we’ll continue to work our way through the issues there. But, first and foremost, we’ve got to address kind of the issue on the table and make sure that we’ve got the controls in place there. In short-term, that does impact us. I mean there’s no question about it. I mean we’re retrenching, we’re looking at the leadership team there, we’re looking to get how that is organize and whether structurally we need to do something different. So, I expect that impacts us in Eastern European here in the short-term, but it’s the right thing to do for the long-term health of both the company and sending the right signal to how we operate around the world that if someone does something that’s inappropriate or accidentally, it doesn’t matter. I mean we’re going to upfront address this and regardless of the business implications, deal with it. So, I’m confident we can deliver our results despite what we’re going to be faced with in Russia and the other uncertainties we have kind of around the world. Matt Summerville – KeyBanc Capital Markets: Appreciate the perspective. Thanks, Tom.

Yes.

And now, I turn the call back to Mr. John Kristoff for any closing remarks.

Thanks, Christine. Thank you for joining us this morning. But before we go, I wanted to mention our upcoming Diebold Investment Community Conference beginning the evening of September 14th, which will take place at our headquarters here in North Canton, Ohio. We will begin with a reception with our entire management team at our Customer Global Solution Center. Then on September 15th, we’ll hold the main presentation portion of the event and we’ll also conduct some breakout sessions on topics such as North America Market Review with our North American Management team, Deposit Automation with some of our top engineers with tours at our labs here and also, Integrated Services and more. So, we will be sending out some information on that shortly, but I wanted you to mark the dates on your calendar. Again, that’s September 14th and 15th. And as always, if you have any follow-up questions, please don’t hesitate to reach out to myself or Chris Bosch (ph) following the call. Thank you very much.

That concludes our call for today. Thank you for your participation.

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