Lexmark International Inc. Reveals 63% Drop In Q1 Earnings

(RTTNews) - Lexmark International Inc. (LXK) revealed a profit for first quarter that declined compared to the same period last year.

The company said its bottom line fell to $19 million, or $0.31 per share. This was lower than $51 million, or $0.81 per share, in last year's first quarter.

Analysts had expected the company to earn $0.78 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 5.0% to $812 million. This was down from $855 million last year.

Lexmark International Inc. earnings at a glance:

-Earnings (Q1): $19 Mln. vs. $51 Mln. last year. -Earnings Decline (Y-o-Y): -62.7% -EPS (Q1): $0.31 vs. $0.81 last year. -EPS Decline (Y-o-Y): -61.7% -Analysts Estimate: $0.78 -Revenue (Q1): $812 Mln vs. $855 Mln last year. -Revenue Change (Y-o-Y): -5.0%