Lexmark Earns More Than Double For the Second Quarter of 2013

August 5, 2013 No Comments

imagesLast July 23, Lexmark International Inc. announced through their official newsroom the announced financial results for the second quarter of 2013, in which they “exceeded their April guidance range for both revenue and EPS” as Paul Rooke, Lexmark Chairman and Chief-Executive Officer had stated.

“Our high value, strategic segments of managed print services and Perceptive Software both grew at a double-digit rate, and we generated solid free cash flow,” said Rooke. “Enabled by our long history of cash generation, we continue to create value for Lexmark shareholders through the combination of share repurchases, dividends, and organic and acquisitive investments to further advance our end-to-end solutions capabilities.”

“Recent significant customer wins, along with multiple, prestigious industry accolades, show that the growth synergies we are creating between Imaging Solutions and Services and Perceptive Software have positioned Lexmark well to help customers solve their unstructured information challenges and enable us to lead in this large and expanding market,” Rooke added.

Lexmark GAAP revenue reached $887 million which includes $3 million of acquisition-related adjustments. While the non-GAAP revenue reached $890 million, declining 3% compared to last year’s result. But excluding the planned decline in Inkjet Exit revenue, the non-GAAP revenue grew 4% year to year.

According to their press release, Lexmark second quarter earnings includes “a $71 million pre-tax gain on the sale of inkjet-related technology and assets. Second quarter 2013 net adjustments were ($0.44) per share. Second quarter 2012 adjustments were $0.34 per share” while the “non-GAAP earnings were $0.95 per share compared with non-GAAP earnings of $0.89 per share in the second quarter of 2012.”

Their Imaging Solutions and Services (ISS) revenue of $828 million declined 5 percent compared to the same period last year. But their ISS revenue, excluding Inkjet Exit revenue, grew 2 percent, compared to last year. When it comes to their Lexmark hardware revenue, it reached $171 million and Supplies revenue of $608 million declined 14 percent and 4 percent compared to last year.  However their software and other revenues of $108 million grew 23 percent compared to last year, or 24 percent, excluding acquisition-related adjustments.

Sources: Lexmark Reports Second Quarter Results, Lexmark Newsroom

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