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Lexmark Posts Q2 Earnings, Sales Gains

7/27/2010 10:53:50 AM Eastern

Lexington, Ky. - Lexmark reported a double-digit gain in
revenue and a 400 percent gain in net earnings for the second quarter.

Revenue was $1.03 billion up 14 percent year on year and net
earnings were $85 million for the quarter, up from the prior year's $17
million.

"Lexmark's second quarter results were significantly better
than expected, driven by double-digit growth in both hardware and supplies
revenue, as well as operating income margin expansion," said Paul J. Curlander,
Lexmark chairman /CEO.

"This strong performance is a reflection of our improved
product lines, continued growth in managed print services, the shift in our
inkjet focus to business customers, and our ongoing strong growth in workgroup
lasers and higher end inkjet products," Curlander added.

Second quarter Printing Solutions and Services Division
(PSSD) revenue of $752 million grew 20 percent year to year, Imaging Solutions
Division (ISD) revenue of $275 million declined 2 percent year to year, and all
other GAAP revenue was $6 million, or $8 million excluding acquisition-related
adjustments.

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