27.10.2015 12:01:02

Lexmark International Posts Loss In Q3; Expects Q4, FY15 EPS Below Estimates

(RTTNews) - Lexmark International Inc. (LXK) Tuesday announced a fall to loss for the third-quarter, while revenues were reduced from the prior year. The company said, the results reflect strong U.S. dollar, the optimization of laser supplies channel inventory and the ongoing exit of inkjet. Further, the company expects fourth-quarter and full year 2015 earnings per share below estimates.

For the third-quarter, the company reported a net loss of $15.2 million, compared to a profit of $34.7 million a year. On a per share basis, loss per share was $0.25, compared to a profit of $0.55 a year ago. On average, five analysts polled by Thomson Reuters expected the company to earn $0.57 per share. Analysts estimates usually exclude special items.

Revenue for the quarter declined to $851.1 million from $918.1 million in the previous year. On an adjusted basis, revenue was $868 million. Wall Street expected $902.64 million.

Looking forward to the fourth quarter, the company expects earnings in a range of $0.00 to $0.10 per share. On an adjusted basis, earnings per share is projected to be in a range of $1.05 to $1.15 per share. Analysts expects $1.24 per share on a revenue of $3.6 billion.

Total revenue is expected to be a range of -4 to -6 percent year over year, while core revenue is expected to be a decline of -1 to -3 percent.

For the full year 2015, the company expects loss per share of $0.38 to $0.48, and on an adjusted basis a profit of $3.42 to $3.52 per share. Wall Street expects $3.59 per share on revenue of $3.69 billion.

Core revenue projection for the full year 2015 is flat to down 1 percent year over year and total revenue in a range of -3 to -4 percent year over year.

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