Lexmark Posts Third Quarter Fall In Profits

Posted by Alex Turner

Printer and ink cartridge manufacturer Lexmark's recorded a six per cent increase in revenue for the third quarter when compared with figures from the second.

According to the company, the $958 million (£584 million) worth of revenue was a six per cent increase on the figure seen during the second three-month period of the year.

However, the amount was 15 per cent lower than figures seen in the same quarter last year.

Net earnings for the quarter reached $10 million compared with $37 million recorded in the same period in 2008.

Paul J Curlander, Lexmark chairman and chief executive officer, said: "Stronger than expected customer demand drove good sequential growth for Lexmark, exceeding our expectations in the third quarter.

"We also continued to improve the fundamentals of the business with well received new product introductions in both the inkjet and laser segments."

Lexmark's Printing Solutions and Services Division saw revenue of $654 million during the period, a figure five per cent higher than the previous quarter.

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