Lexington, KY – Lexmark reported earnings of $1.48 per share on revenues of $1,006,000,000 for the final quarter of 2013.
“The fourth quarter turned out to be a very strong one up and down the line in our core parts of the business that we’re focused on,” Lexmark Chairman and CEO Paul Rooke told in an interview.
The earnings per share were up more than dollar over the previous quarter ($.45 per share) and the same period in 2012 ($.40 per share). Continued growth in the company’s software and managed print services (MPS) buoyed the quarter.
“The Perceptive business achieved record revenue and grew 70 percent which was some of the acquisitions we made there in the second half as well as good strong organic growth,” Rooke said of Perceptive Software, the suburban Kansas City-based division of Lexmark.
In addition to adding customers to their MPS business, which allows for documents to be stored, sorted, managed and printed off one central system, Rooke said the company kept all of its current customers in that part of the business.
“This growth it comes from winning new customers, but it also comes from keeping all of the current customers and we achieved a 100 percent retention rate in our managed print services,” he said. “Those customers that had a choice to either renew their contract with us in 2013 or not all opted to stay with Lexmark, and that tells us something about our customer satisfaction and what we’re doing with our current customers as well as growing new customers. When you get both of those working for you where you keep all of your existing customers and you keep adding new customers it ratchets up and you see growth like what we’re seeing here."
In addition, dividends totaled $19 million for the quarter and $75 million for the year as a whole.
For more on the current direction of Lexmark, see an article the appeared in the December edition of by clicking here.