LEXMARK STOCKS UP 12% ON STRONG Q4

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LEXMARK STOCKS UP 12% ON STRONG Q4

 user 2010-02-08 at 10:26:08 am Views: 63
  • #23563

    http://www.businessweek.com/news/2010-02-02/lexmark-climbs-most-in-3-months-after-forecast-tops-estimates.html
    Lexmark Climbs 12% as Profit Forecast Tops Estimates
    LEXMARK STOCKS UP 12% ON STRONG Q4
     Feb. 2010– Lexmark International Inc., the second-largest U.S. printer maker, advanced the most in three months in New York trading after forecasting first-quarter profit that beat analysts’ estimates.Excluding some items, earnings will be at least 80 cents a share, the company said today. That compares with the 62-cent average of estimates compiled by Bloomberg. Earnings last quarter equaled $1.16, also beating predictions.

    Fourth-quarter revenue topped analysts’ projections at $1.07 billion, which the company attributed to new products. Chief Executive Officer Paul Curlander has squeezed more out of sales by closing factories in Mexico and trimming payrolls, cutting more than $200 million in expenses last year.Net income in the fourth quarter more than tripled to $59.8 million, or 76 cents a share, from $18.1 million, or 23 cents, a year earlier.Lexmark, based in Lexington, Kentucky, rose $3.21, or 12 percent, to $30.01 in New York Stock Exchange composite trading at 4 p.m. The gain was the largest since Oct. 20.