Lexmark Second Quarter Results Below April Guidance

Printer company Lexmark has confirmed its financial results for the second quarter of 2012, with figures falling below the guidance the ink giant set in April.

The company achieved a GAAP revenue of $919 million (£585 million), while its non-GAAP revenue stood at $921 million, representing a 12 per cent decline when compared with the results of last year.

Paul Rooke, Lexmark chairman and chief executive officer, said: "Lexmark's second quarter results were below our April guidance, reflecting weaker than expected demand, particularly in Europe, and unfavorable currency impacts."

Mr Rooke conceded that "economic headwinds" are having an effect on results, but the company's managed print services and Perceptive Software businesses are recording growth.

Despite its results, Lexmark recorded positive news recently, as it collected a five-year contract from the Federal Aviation Administration.

As a result of the deal, the ink giant will become the sole provider of printing services to the group.