Lexmark_logo
Lexington, KY – Lexmark’s CEO said second quarter earnings were a good indication that moves the company has been making over the last few years are paying off.
Revenue in for the second quarter of 2013 hit $890 million, down 3 percent from the $921 million mark it saw in the same timeframe in 2012, but CEO Paul Rooke pointed out the company’s revenue sans its inkjet division – a market the company exited last year – grew by four percent.
Business Lexington.
“We saw a number of positive signs here in the second quarter,” Rooke told He said the company’s growth in the strategic areas of focus were “driven by good, solid, double-digit growth in our managed print services, which grew 12 percent, and in Perceptive Software, which grew 34 percent.
“Those things are very encouraging for us that our strategy is working,” he said.
The quarter saw an increase in earnings per share from the same time in 2012 as the Lexington-based document services company earned $1.39 per share. In 2012 earnings in the second quarter were $.55 per share. The company saw a boost in this quarter’s overall earnings from a $71 million pre-tax gain on the sale of inkjet-related technology and assets to Osaka-based Funai Electric. That sale was announced in April.
Rooke said he expects this trend to play out over the rest of the year as the company’s strategies to change from a printer company to one focused on document services continues.
“With any business you have to constantly figure out how to reinvent yourself. The customers’ needs and requirements are constantly changing,” he said. “The technology is constantly changing. When I look back at 1991 when we became Lexmark and look at our products and our offerings then versus where we are now, it’s dramatically different.”
The quarter also saw the addition of several new clients, the FBI, which picked Lexmark for a three-year, $30 million print management solutions contract and Averitt Express and Kohler Select, both of which will be implementing Perceptive Software services. Averitt Express is a freight transporter and Kohler has more than 50 manufacturing locations worldwide, according to a release from Lexmark. Kohler will use Perceptive to streamline its accounts payable process.