Lexmark Still Cautious Despite Earnings Growth
Citing increased sales in supplies and hardware, the printer company reports double-digit earnings and revenue growth for the second quarterbut execs say market uncertainty is keeping them guarded.Printer giant Lexmark International Inc. on Monday reported double-digit earnings and revenue growth for the second quarter of 2004. The Lexington, Ky., company took in a profit of $136.6 million, or $1.02 per share, on revenue of $1.25 billion, topping its year-ago profit of $101.7 million, or 77 cents a share, on revenue of $1.12 billion. Profit was driven by a 14 percent growth in sales of supplies and an 11 percent growth in hardware sales, Lexmark chief financial officer Gary Morin said during an earnings conference call.
In the business market, sales of low-end monochrome and color laser printers were stronger than higher-end printers, Morin said.