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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Captain Jack who wrote (97299)	4/22/2002 5:16:26 PM
From: Night Writer	Respond to of 97611

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 * end of story *