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Lexmark International Inc. Reports Fourth-Quarter Loss of $25.6M
Lexmark International Inc. reported Tuesday a fourth-quarter loss of $25.6 million, after reporting a profit in the same period of 2013.
Nonetheless, the company said it had a strong performance because its Perceptive Software and laser printer hardware, and supplies business did well, even though the company overall took a hit from its continuing exit from the inkjet printer business.
The inkjet exit was described as "a stiff headwind," along with foreign currency fluctuations that the company said affected its earnings.
Lexmark International is continuing its transition from printers to the broader category of information solutions, the company said. Earlier in January, Lexmark bought Toronto-based Claron Technology Inc., a leading provider of medical image technology, in a $37 million all-cash transaction.
The company had a loss of 42 cents a share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to $1.11 a share. The printing and imaging company posted revenue of $1.02 billion in the period.
For the year, the company reported profit of $79.1 million, or $1.25 a share. Revenue was reported as $3.71 billion.
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