Lexington, KY – Growth in relatively new areas of Lexmark’s business model helped offset losses stemming from the closing and subsequent selling of the assets related to the company’s former inkjet division, according to Paul Rooke, CEO of the Lexington-based technology company.
Business Lexington
“Those strategic areas offset the inkjet exit decline,” Rooke told when speaking about the company’s $878 million first quarter of 2014. Revenues for the time period fell less than 1 percent over 2013 while the company has been able to return dividends to stockholders for a 10th straight quarter.
“We had good, solid growth in our higher value parts of the business,” Rooke said.
Much of that came from its suburban Kansas City-based Perceptive Software division, which enveloped four of the five companies purchased by Lexmark in 2013. In the first quarter of this year, Lexmark reported Perceptive took in revenue of $61 million.
“We’re pleased both on the R&D side as well as the sales side, how those teams are becoming part of Lexmark. You can see that in our software growth of 38 percent year-to-year growth here in the first quarter,” Rooke said.
Overall, the company reported earnings of $.46 per share as opposed to $.64 share in the same period last year.