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Lexmark Reports Steady Revenue in Q3

Wednesday, October 25, 2006

Press release from the issuing company

LEXINGTON, Ky., Oct. 24-- Lexmark International, Inc. today announced financial results for the third quarter of 2006. Third-quarter revenue was $1.235 billion compared to $1.216 billion last year, an increase of 1.6 percent. Third-quarter earnings per share were $0.85 and include $0.06 per share for share-based compensation expenses resulting from the company's adoption of SFAS123R. Earnings per share would have been $0.95 excluding $0.10 per share restructuring related charges for actions announced in January. Third-quarter 2005 earnings were $0.59, and included third quarter 2005 costs of $0.05 per share from a work force reduction. "This was a good quarter for Lexmark. EPS were better than expected and we continued to generate solid cash flow. We have more work ahead, but we continue to invest in the brand, market and product initiatives that support our long-term growth strategy," said Lexmark Chairman and Chief Executive Officer Paul J. Curlander. Third-quarter business segment revenue of $696 million increased 8 percent year to year, and consumer segment revenue of $539 million declined 5 percent compared to a year ago. Third-quarter results include restructuring related pretax charges totaling $13 million comprised of $4 million in cost of revenue and $9 million in operating expense. Third-quarter 2005 results included $9 million pretax work force reduction costs impacting operating expenses.




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