What Do You Tell Stockholders After Posting a $25M Loss

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What Do You Tell Stockholders After Posting a $25M Loss

 news 2015-01-29 at 11:16:29 am Views: 262
  • #41882

    What Do You Tell Stockholders After Posting a $25M Loss
    Lexmark CEO: Perceptive great in 2014, better in 2015

    Perceptive Software Inc.'s continued growth is putting a smile on the face of its parent company.

    Lexmark International Inc. Reports Fourth-Quarter Loss of $25.6M

    Lexmark International Inc. (NYSE: LXK), which acquired Lenexa-based Perceptive in 2010, saw its company boost revenue gains 37 percent in the fourth quarter, the parent company reported Tuesday. One quarter after reaching record revenue of $83 million, Perceptive reported revenue of $90 million.

    "We remain excited about what we're building there with Perceptive Software," Lexmark CEO Paul Rooke said in an interview with the Kansas City Business Journal. "They continue to drive their growth, but also they're expanding their (profit) margin, which are both very important in what we're trying to achieve there strategically with Perceptive."

    Perceptive also posted a solid year, with revenue reaching $296 million in total. Rooke said the goal for 2016 is for the company to reach $500 million.

    "We feel like we're on track," Rooke said. "It may be a little bumpy quarter to quarter, but strategically everything is moving the right direction."

    Lexmark also recently completed two acquisitions to bolster Perceptive's offerings. First, the companies acquired Sweden-based ReadSoft for $251 million. The company, which automates business document processing with on-site and cloud software, brings a business with 12,000 customers and a presence in 70 countries, significantly increasing Perceptive's growth in Europe, the Middle East and Africa.

    More recently, Lexmark and Perceptive acquired Claron Technology Inc., a provider of medical image viewing, distribution, sharing and collaboration technology, for $37 million cash. The company's offerings should mesh well with Perceptive's technologies, offering clients a more comprehensive system to capture, store, view and exchange medical imagery.

    "It helps us now exchange a lot of this medical content between hospitals, which is a real pain point for them," Rooke said. "When you look up and down the stacks of the things we're building, when they're put together, it's a rather compelling story for us to now not only capture, store, view but also exchange this information in a very easy way."