Lexmark International Q3 Profit Up; Revises FY14 Outlook

(RTTNews) - Laser printer manufacturer Lexmark International, Inc. (LXK) Tuesday reported its third-quarter earnings of $38 million or $0.60 per share, up from $34 million or $0.53 per share last year. Excluding certain items, the company earned $1.05 per share for the quarter. On average, 7 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.92 for the quarter. Analysts' estimates typically exclude one-time items. Quarterly revenues improved to $918 million from $890 million a year ago. Analysts were looking for revenues of $889.62 million. Looking forward, for the fourth quarter, the company expects earnings per share in the range of $0.56 - $0.66. On an adjusted basis, earnings are expected to be around $1.10 - $1.20. Also, total revenue is currently expected to be down 2 to 4 percent. Analysts estimate earnings per share of $1.18, on revenues of $972.29 million. For the fiscal 2014, the group sees earnings per share in the range of $2.21 - $2.31, while on an adjusted basis, earnings are projected to be around $4.05 - $4.15, an increase to the mid-point of the previous guidance of $3.95 - $4.15. Revenue is currently expected to be in the range of flat to down 1 percent, an increase to the mid-point of the previous guidance of flat to down 2 percent. Analysts forecast earnings per share of $4.00 per share, on revenues of $3.64 billion.