Loss for Lexmark’s Second Quarter, But Sharp Revenue Increase for Enterprise Services Group

On July 29th, Lexmark International reported a second-quarter net loss of $35.4 million, versus a net loss of $34.7 million for the second quarter a year ago, and revenue of $863 million, down 2 percent versus the second quarter a year ago. On the bright side, revenue for Lexmark’s Enterprise Services group (which includes managed print services [MPS] and enterprise software revenue) was up 18 percent to $165  million.

However, revenue for Lexmark’s Imaging Solutions’ group, which markets printers and copier/MFPs and related software and solutions, was $698 million, down 6 percent versus second-quarter 2015. Lexmark’s Core revenue was constant at $848 million.

Last month, Lexmark shareholders approved the sale of Lexmark for $3.6 billion to China’s APEX Technology and a consortium of investors. Shareholders will get $40.50 per share in cash. The proposed sale is currently being reviewed by the Committee on Foreign Investment in the United States. Lexmark expects to complete the sale by the end of 2016.

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