This news didn't help HP today.
NW
Lexmark profit hit by weaker technology spending
LEXINGTON, Ky., April 22 (Reuters) - Lexmark International
Inc.<LXK.N>, the No. 2 U.S. computer printer maker, on Monday
reported lower first-quarter net income as earnings were hurt
by continued weakness in demand for computer technology.
Lexmark, second in the competitive printer market after
leader Hewlett-Packard Co.<HWP.N>, said net income fell to
$71.5 million, or 53 cents a share, compared with $79.7
million, or 60 cents per share a year ago.
Analysts, on average, expected earnings of 48 cents, while
the expected profit ranged from 45 cents to 52 cents, according
to research Thomson Financial/First Call.
Revenues rose to $1.05 billion from $988 million a year
ago, Lexmark said. Analysts on average had forecast revenues of
about $1 billion, according to Multex. Revenue in the year-ago
period was originally reported at $999 million but has been
reduced to $988 million because of a reclassification of
marketing expenses required under new accounting rules.
Lexmark also forecast a second-quarter profit of 56 cents
to 66 cents a share, with revenue growth coming in at a faster
rate than in the first quarter. Analysts on average expected
second quarter earnings of 57 cents a share, in a range of 52
cents to 66 cents, according to First Call.
((-- New York Equities, 646-223-6000))
REUTERS
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