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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.
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