Lexmark Q1 Results Top View - Quick Facts

(RTTNews) - Lexmark International, Inc. (LXK) Tuesday said its first-quarter net earnings declined to $19.7 million from $29.3 million reported last year. Earnings per share fell to $0.32 from $0.46.

Adjusted earnings per share amounted to $0.81, while it totaled $0.92 last year. On average, seven analysts polled by Thomson Reuters expected earnings of $0.76 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue fell to $852 million from $878 million last year. Adjusted revenues were $855 million, compared to $881 million last year. Analysts expected revenues of $849.98 million.

Paul Rooke, Lexmark chairman and CEO, said, "Despite a strong currency headwind, Lexmark delivered revenue and EPS at the top of our January guidance range. Double-digit revenue growth in Higher Value Solutions is another clear indication that our transformation strategy is working."

For the second quarter, adjusted earnings are expected to be around $0.75 to $0.85, while reported earnings are estimated in the range of expected to be around $0.07 to $0.17 per share.

Total revenue is expected to decline in the range of 2 to 4 percent year to year, while core revenue is expected to be approximately flat.

Analysts look for quarterly earnings of $0.79 per share on revenues of $861.25 million.

For full year of 2015, adjusted earnings per share are expected to be around $3.60 to $3.80, and reported earnings per share are expected to be around $1.42 to $1.62.

Total annual revenue is expected to decline in the range of 3 to 5 percent and core revenue is expected to decline slightly year to year.

Wall Street expects annual earnings of $3.61 per share and revenues of $3.61 billion.