Lexmark Reports First-Quarter Results This 2013

April 28, 2013 No Comments

LexmarkLexmark International Inc., known to provide businesses of all sizes with a broad range of printing and imaging products, software, solutions and services, had reported the financial results for the first quarter of 2013 last April 13 through their official release that was published in their official website.

According to the OEM manufacturer, Lexmark’s “GAAP revenue of $884 million includes $2 million of acquisition-related adjustments. Non-GAAP revenue of $886 million declined 11 percent compared with last year.”

Lexmark Imaging Solutions and Services (ISS) received a revenue of $840 million, declining 13 percent compared to the same period last year. But the  Managed Print Services (MPS) under Imaging Solutions and Services (ISS) received a revenue of $160 million grew 10 percent. Non-MPS revenue had a total of $558 million, and declined 12 percent. While their Inkjet Exit revenue of $122 million declined 34 percent year to year.

Lexmark’s Perceptive Software received a revenue of $44 million, excluding acquisition-related adjustments of $2 million, was $46 million and grew 54 percent compared to the same period in 2012.

First Quarter 2013 GAAP results:

  • Revenue was $884 million compared to $992 million last year.
  • Gross profit margin was 37.8 percent versus 38.4 percent in 2012.
  • Operating expense was $281 million compared to $292 million last year.
  • Operating income margin was 6.1 percent compared to 9.0 percent in 2012.
  • Net earnings were $35 million compared to 2012 net earnings of $61 million.
  • First Quarter 2013 Non-GAAP results:

Revenue was $886 million compared to $993 million last year.

  • Gross profit margin was 39.8 percent versus 39.4 percent in 2012.
  • Operating expense was $272 million compared to $282 million last year.
  • Operating income margin was 9.1 percent compared to 11.0 percent last year.
  • Net earnings were $57 million compared to $76 million in 2012.

“In the first quarter, Lexmark delivered revenue and EPS at the high end of our guidance range, and we continued to grow our higher value segments,” said Paul Rooke, Lexmark chairman and chief executive officer. “We also remain focused on our transition from a hardware-centric to a solutions-centric company with the acquisitions of two software companies and the recently announced agreement to sell Lexmark’s inkjet-related technology and assets.

“Lexmark’s long history of free cash flow generation has enabled the company to complete eight software-focused acquisitions that are strengthening and expanding our solutions capabilities, and since 2011 return more than $500 million in combined dividends and share repurchases to our shareholders,” added Rooke.

Sources: Lexmark Reports First Quarter Results, Lexmark Newsroom

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