Lexmark Reports First Quarter 2012 Results
04/24/2012LEXINGTON, Ky., April 24, 2012 --
- In-line revenue and EPS
- Strong gross profit margin, a first quarter record
- Free cash flow of $44 million
- Acquisitions strengthening Lexmark's position as an end-to-end solutions provider
Lexmark International, Inc. (NYSE: LXK) today announced financial results for the first quarter of 2012.
"Our first quarter financial results were in line with guidance, reflecting growth in large workgroup hardware and core supplies," said Paul Rooke, Lexmark chairman and chief executive officer. "Also, managed print services and Perceptive Software continued to significantly outpace the market. Our performance in these high value strategic focus areas indicates we are making good progress as we continue to evolve our business mix.
"The addition of our compelling new line of smart devices for the mid-range color workgroup segment, and the acquisition of three more software companies further positions Lexmark as a key provider of business solutions. Adding Brainware, ISYS and Nolij to our company enables us to integrate new content and process management technologies into our solutions portfolio," said Rooke. "We also remain committed to returning more than 50 percent of free cash flow, on average, to shareholders through share repurchase and a quarterly dividend consistent with our capital allocation framework."