Lexmark International Inc., which makes a variety of Mac compatible printers and multifunction devices, expects third-quarter earnings to beat previous guidance.
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The company announced today that they expect third-quarter 2002 year-over-year revenue growth rate of 4 to 5 percent and earnings per share of 68 to 70 cents, as compared to 52 cents a year earlier. On July 22, Lexmark provided guidance for a year-over-year revenue growth rate in the low- to mid-single digits and earnings per share in the range of 58 to 68 cents.
The revised 68 to 70 cent range includes the effect of abandoning a customer relationship management (CRM) software project that results in the write-off of US$15.8 million, or 9 cents per share, in the third quarter.
For the fourth quarter of the year, Lexmark is predicting a year-over-year revenue growth rate in the low- to mid-single digits and earnings per share in the range of 67 to 77 cents. For the same time period in 2001, the company reported earnings per share of 46 cents on an operational basis, before non-recurring charges.
Lexmark recently offered a Jaguar-compatible driver for its PrinTrio multi function device, and also introduced the X-85 All In One Print Center. In August Lexmark replaced its Z55 color printer with the new 4800DPI Z55se Color Jetprinter.