LEXINGTON, Ky. (AP) - Printer maker Lexmark International Incorporated announced today its second-quarter profit declined 16 percent on lower consumer segment sales and higher costs. But a release says its results managed to top Wall Street's forecast.
Based on lower revenue, the company said that it anticipates earnings in the current quarter to fall below analysts' expectations.
Net income fell to 64-point-two (m) million dollars, or 67 cents per share, for the second quarter, compared with 76-point-seven (m) million, or 74 cents per share, in the prior year.
Excluding a benefit from restructuring activities, Lexmark earned 65 cents per share. For the prior year, it posted adjusted earnings of one dollar-and-nine cents per share, which excluding restructuring related charges of 35 cents per share. Both periods' earnings and adjusted earnings included a tax benefit of about five cents per share.
(Copyright 2007 by The Associated Press. All Rights Reserved.)
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