News

Printer vendor stays strong course

April 21, 2003

LEXINGTON, Ky. --Lexmark International Inc. today announced record financial results for the first quarter of 2003. First-quarter revenue was $1.108 billion, up 6 percent from the same period in 2002. Net earnings per share were a record 73 cents, up 36 percent from the year-ago quarter, according to a news release.

"Lexmark continues to report record results despite a slow technology market and a sluggish economy," said Paul Curlander, chairman and CEO. "The consistency of our results demonstrates the strength and stability of our supplies-driven business model."

Lexmark's revenue for the first quarter ended March 31, 2003 was $1.108 billion, up 6 percent from $1.050 billion in the same period of 2002. Laser and inkjet supplies revenue was $642 million, a 17 percent increase over $546 million a year ago, and now represents 58 percent of total revenue, up from 52 percent in the prior-year quarter, the release reported. Laser and inkjet printer revenue was $370 million, down 8 percent from $401 million in the first quarter of 2002.

Curlander said, "These products continue to strengthen our ability to provide distributed, low-cost, high-performance network print devices that are modular and can be configured into multifunction workflow products."