LEXMARK 2008 FULL YEAR REVENUE REPORT

[Anonymous]

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

[Author]

February 19, 2009 at 2:41 PM