LEXMARK 2008 FULL YEAR REVENUE REPORT

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LEXMARK 2008 FULL YEAR REVENUE REPORT

 user 2009-02-19 at 2:41:08 pm Views: 38
  • #21526

    lexmark 2008 by the numbers
    FOURTH-QUARTER AND FULL-YEAR REVENUE
    4Q08: $1.08 billion
    4Q07: $1.31 billion
    2008: $4.53 billion
    2007: $4.97 billion

    FOURTH-QUARTER AND FULL-YEAR EARNINGS
    4Q08: $18.1 million
    4Q07: $99 million
    2008: $240.2 million
    2007: $300.8 million

    EARNINGS PER SHARE
    4Q08: 23 cents (75 cents excluding one-time charges).
    4Q07: $1.04 ($1.29 excluding one-time charges).
    2008: $2.69 ($3.55 excluding one-time charges).
    2007: $3.14 ($3.50 excluding one-time charges).

    BEHIND THE EARNINGS
    The company said it suffered from the weak global economy, as well as significant currency rate shifts. It raised prices to counter the currency rate shifts, but many could not be passed along immediately because of contracts.

    STOCK REPURCHASES
    The company bought back 5.2 million shares for $122.5 million in the fourth quarter, and management is authorized to repurchase an additional $491 million in shares. Its shares outstanding are down to 80.1 million from 95.3 million a year ago.

    LASER REVENUE
    4Q08: $718 million
    4Q07: $800 million
    2008: $2.98 billion
    2007: $3 billion

    INKJET REVENUE

    4Q08: $366 million
    4Q07: $509 million
    2008: $1.55 billion
    2007: $1.98 billion

    QUARTERLY SALES OF PRINTER HARDWARE

    Laser: Revenue from sales of laser printers fell 21 percent in the fourth quarter, primarily because of a lower number of printers sold, as well as aggressive pricing. The number of shipments declined 8 percent primarily because of a lower number of units sold to other companies that then re-brand them and sell them.Inkjet: Revenue from sales of inkjet printers and the number of inkjet printers sold both dropped 43 percent.

    QUARTERLY SALES OF INK AND TONER
    Sales of ink and toner were down 12 percent, primarily because of a decline in sales of ink.

    LOOKING FORWARD
    Lexmark expects its first-quarter revenue to fall “in the mid- to high-teens percentage range” compared with the same quarter in 2008. The company forecast earnings per share in the range of 52 cents to 62 cents. Excluding restructuring charges, earnings per share are expected to be 65 cents to 75 cents