Lexmark Announces Poor 2011 Results

Ink giant Lexmark has announced disappointing results both in terms of the final quarter of 2011 and the whole year's performance.

Many have claimed that the company is still coming to terms with the pains of switching its inkjet business in order to focus on businesses rather than consumers.

This is reiterated in Lexmark's future plans which involved looking to better align both its sales and marketing resources in an attempt to focus on business customers.

Lexmark chief executive officer Paul Rooke said: "As we have exited consumer inkjet, we are moving this technology upstream, and as we do that, we're shedding some of the less-performing areas of the business."

The company did manage to see positives in its managed print services offering in which it deals with a variety of printing services for its companies.

Mr Rooke revealed that the company had a 100 per cent contract renewal rate among its global Fortune 500 clients across the year, while also winning 23 new contracts from Fortune 500 clients over the past two years.

Posted by Canzil Ahmed.