Lexmark International, Inc. (LXK: Quote) posted first-quarter net earnings of $60.8 million or $0.84 per share, lower than $83.3 million or $1.04 per share last year. Adjusted earnings per share declined to $1.05 from $1.14 in the previous year.
Revenue for the quarter declined to $992.5 million from $1.03 billion in the same quarter last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.05 per share on revenues of $988.98 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to the second quarter, the company currently expects revenue to decline 7 to 9 percent year-over-year. Adjusted earnings for the quarter is expected in a range of $0.95 to $1.05 per share.
Street is looking for earnings of $1.14 per share on revenues of $986.38 million for the second quarter.
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by RTT Staff Writer
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