Lexmark 3rd Quarter Recap
Lexmark earlier this week posted their quarterly business roundup detailing some of the highlights of the most recent fiscal segment. Obviously, the biggest announcement is one from last week concerning a planned restructuring of the company and removing themselves from the inkjet printer market. This maneuver is slated to help Lexmark realize as much as $95 million in annualized savings within in the next few years. Additionally Lexmark will be executing $100 million in share repurchases between now and the end of the year.
Among the highlights for Lexmark and their affiliated companies in terms of customers, Perceptive Software and Brainware, this quarter was again marked by successes. Lexmark itself was recognized by third-parties for their color workgroup devices following a battery of rigorous tests. Their Scan to Sharepoint software was also recognized as “a convenient solution for scanning hard copy documents into digital format”.
In terms of printing, this past quarter, Lexmark entered into a new, five-year contract with the Federal Aviation Administration to become the sole provider of printing technology. The contract is valued at $21 million. Lexmark’s C748de color laser printer was recognized by PC World as a 4-star (out of 5) printer after lab testing as well as being ranked as the #2 overall Color Laser Printer.
