Lexmark Q4 profit fall

 

 Lexmark has reported that its Q4 profit fell by nearly half and announced a series of cost cutting plans, amid a slump in sales of printers and replacement ink and toner.
The printer maker said its Q4 net income fell to $82.3 million, or EPS of $0.71, from $155 million, or EPS of $1.18, a year earlier. Q4 revenue was $1.37 billion from $1.54 billion for the same quarter last year.
Lexmark also said it would be cutting 825 jobs and that it expects restructuring to save the company $80 million a year.