Lexington, KY – Lexmark saw an uptick in revenue for the second quarter of 2014 over the same time period last year as the Lexington-based company reported $892 million in revenue for the quarter versus $887 million brought in during the same period in 2013.
Earnings per share for the quarter took a hit from the same period last year, however, as the company earned $.59 per share versus $1.47 last year, which included a $71 million gain on the sale of the company's inkjet technology and assets.
Combined managed print services and Perceptive Software revenue of $259 million – excluding acquisition-related adjustments of $2 million – grew 11 percent year to year and accounted for 29 percent of total revenue, up from 26 percent in the same period last year, according to a release from the company.
"This growth is fueled by the disciplined execution of our capital allocation framework, which funds the company's transformation while concurrently rewarding our shareholders with both a 20 percent dividend increase and share repurchases, returning $41 million this past quarter,” Lexmark’s Chairman and CEO Paul Rooke said in a release referring to Perceptive.
"Considering our continued strong performance, we are increasing our full-year 2014 revenue and earnings per share guidance," he said.
The company had forecasted earnings in the $.47 to $.57 per share range for the second quarter when releasing its first quarterly earnings in April.
For the third quarter of the year, Lexmark is forecasting earnings $.44 to $.54 per share while expecting total revenue to be flat or fall up to 2 percent over the third quarter of last year.