Lexmark Q3 profit jump


Lexmark, the world’s second largest maker of computer printers, has posted a 50 per cent rise in Q3 net income amid strong demand for printers in both business and consumer markets.

Net income rose to $156.1 million, or EPS of $1.17, from $104.1 million, or EPS of $0.79, in the same period in 2003. Figures included a gain of $0.15 EPS from a tax settlement, the company said. Revenue grew to $1.27 billion from $1.16 billion a year ago.

CEO Paul Curlander said he expected Q4 results to be at the low-end of analyst expectations as the company plans to slash prices of its laser printers by about 35 per cent during the coming quarter to match rivals’ cuts.

He added: "What we saw in the consumer market in Q3 makes us cautious for Q4."

Lexington (KY)