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 user 2005-01-25 at 10:57:00 am Views: 109
  • #11475

    Lexmark says Q4 profit rises 13%
    LONDON-Lexmark International Said fourth-quarter profit grew 13 percent from a year earlier as the printing and imaging company saw improvements in its laser and inkjet business lines.

    Lexmark said it earned $155 million, or $1.18 cents a share, up from $138.8 million, or $1.05 a share, in the same period a year earlier.

    Revenue rose 13 percent to $1.54 billion for the period ended Dec. 31. Analysts surveyed by Thomson First Call had forecast a profit of $1.14 a share on revenue of $1.47 billion, excluding charges and one-time items.

    The company had earlier estimated it would earn between $1.05 and $1.15 a share, with revenue growing slightly on the year.

    In a statement, Lexmark Chief Executive Paul Curlander said the company’s laser and inkjet printer revenue increased 16 percent year over year and revenue from laser and inkjet supplies grew 13 percent.

    “We achieved double-digit revenue growth in both hardware and supplies. Most importantly, we continued disciplined investment in our core strategic development and marketing initiatives to drive future growth,” he said in a statement.

    Lexmark is the No. 2 printing and imaging company in the U.S. behind Hewlett-Packard . In addition to selling its own printers, Lexmark also makes printers for Dell Inc. , and recent analyst reports say Dell could make up as much at 10 percent of Lexmark’s total revenue.

    Going forward, Lexmark gave its traditionally conservative earnings forecast. The company said it expected to report a first-quarter profit of between 95 cents and $1.05 a share, surrounding analyst projections of $1.02 a share. This would be a rise from 91 cents in the same quarter a year earlier.

    The stock closed down 22 cents Friday at $83.91.