HARTFORD, Conn. (AP) -- United Technologies Corp.'s new chief executive said Tuesday that the industrial conglomerate may drop its $2.6 billion bid for Diebold Inc. if it doesn't receive more financial information from the maker of ATMs and security systems.

UTC is trying to broaden its security business and expand into China, and on Feb. 29 offered to buy Diebold for $2.63 billion. United Technologies' current operations include Otis elevators, Sikorsky helicopters and Carrier air conditioners.

The chairman of Diebold quickly rejected the bid, saying it undervalued his company. Diebold in late April issued revenue estimates for the first quarter, but did not release any profit figures. The company, which also makes voting machines, has not filed completed financial statements, including earnings, since the first quarter of 2007, as regulators review how the company reports revenue.

Louis Chenevert, who took over as UTC's chief executive on April 9, told analysts Tuesday that any deal required a more detailed look at Diebold's numbers.

''We'll not buy that property without appropriate due diligence,'' he told the Electrical Products Group conference in Longboat Key, Fla. ''They've not published financials,'' he said. ''For a public company, this is a must and I would say we will not get lured in and just buy a company without going in and understanding.''

Chenevert said UTC likes Diebold's business model a lot, but noted it was not ''a must have.''

''There might be other opportunities that show up on the radar screen in this environment that are really core to us and that's what I will pursue aggressively at that point in time,'' said Chenevert, who was running UTC's jet engine subsidiary Pratt & Whitney two years ago when the company picked him to succeed former CEO George David, who stepped down last month.

Analyst Nicholas Heymann of Sterne Agee said Chenevert's comments were a way to tell Diebold, ''We're not going to wait forever.''

''They have to put the numbers on the table. Up to this point, it's been a conceptual argument,'' he said.

Meanwhile, a group of funds controlled by Mario J. Gabelli acquired a 7.2 percent stake in Diebold on April 11.

Mike Jacobsen, a spokesman for North Canton, Ohio-based Diebold, said the company's board of directors has not budged from its position in early March rebuffing United Technologies' offer.

Jacobsen reiterated on Tuesday that Diebold will complete an internal financial review by June 30 and that statements with revenue and earnings will follow.

Also at Tuesday's conference, Chenevert repeated United Technologies' 2008 profit forecast of $4.65 to $4.85 per share. Analysts expect earnings of $4.88 per share, according to a survey by Thomson Financial.

Paul Nisbet, an analyst at JSA Research Inc. in Newport, R.I., said the earnings forecast is encouraging.

''It's good news because there's constant indications there are disruptions in the economy ... and being an international company as UTC is, it's good to hear once in a while that original projections are still valid,'' he said.

Shares of Hartford, Connecticut-based United Technologies fell 96 cents, or 1.3 percent, to close at $73.40. Meanwhile, Diebold shares fell 82 cents, or 2 percent, to close at $39.47.