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Oem Lexmark Earnings Down $10M
Printer maker Lexmark's revenue slips 3 pct(Reuters) – Printer maker Lexmark International Inc reported a 3 percent decline in quarterly revenue, hurt by lower revenue from its imaging solutions and services business.
PC and printer makers have been struggling as companies reduce printing to cut costs and consumers shift to mobile devices from PCs.
Lexmark's imaging solutions and services business includes monochrome and color laser printers and supplies and services covering its printing products.
The company, which divested its inkjet printer business in 2013 and has since boosted its enterprise software business, said in March that it would buy customer management software maker Kofax Ltd in a $1 billion deal.
Net income fell to $19.7 million, or 32 cents per share, from $29.3 million, or 46 cents per share.
Excluding items, the company earned 81 cents per share, beating analysts' average expectation of 76 cents per share.
Revenue fell to $852.0 million in the first quarter ended March 31 from $877.7 million, beating analysts' average estimate of $850 million.
On Friday, larger rival Xerox Corp cut its full-year profit forecast, blaming a strong dollar, and reported lower-than-expected quarterly revenue as its printer sales fell and costs increased.
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