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.