Lexmark posts lower-than-expected quarter hurt by Europe
July 20 |
July 20 (Reuters) - Printer maker Lexmark International Inc posted a sharply lower-than-expected quarterly result on lower demand from Europe and unfavorable currency moves.
Second-quarter net income more than halved to $39.2 million, or 55 cents per share, from $101.3 million, or $1.27 per share, a year ago.
The company this month cut its outlook for the quarter citing an impact from exchange rates and weakness in Europe.
Excluding items, it earned 89 cents per share.
Analysts, on average, were looking for second-quarter earnings of 93 cents per share on revenue of $941.2 million.
Revenue for the quarter fell to $918.6 million from $1.04 billion a year ago.
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