Printer Ink Maker Lexmark Enjoys Profits Boost
Printer ink cartridges maker Lexmark has announced impressive results for its second quarter.
According to Bloomberg Business Week, Lexmark earned $85.1 million (£54.5 million) in this year's second quarter. When compared with a profit of $17 million (£11 million), for the same period last year, the five-fold results are impressive to say the least.
It is believed good sales of its printers are driving the improved revenue. Given restructuring and changes as a result of acquisitions, Lexmark's profit was $1.23 per share (0.78p), up from 55 cents (0.35p) per share.
Overall, revenue stood at $1.03 billion (£660.1 million), an increase of 14 per cent from the $904.6 million (£579.7 million) earned last year.
According to the news provider, the firm's results were better than most analysts forecast. A group of analysts polled by Thomson Reuters said, on average, that they thought that a revenue of $968.6 million (£620.6 million) would be posted.
Lexmark recently launched a new printer to its range, the Pinnacle Pro901.
Posted by Canzil Ahmed.