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.
- August 2016: Committee on Foreign Investment in the U.S. to Review Proposed Lexmark Acquisition by APEX Technology and Investors
- July 2016: Lexmark Employees Warn of 45-Percent Workforce Reduction, APEX to ‘Absorb Lexmark R&D, Shift Operations to China’
- July 2016: Lexmark Shareholders Approve Acquisition by Apex Technology and PAG Asia Capital
- May 2016: Lexmark Employees Seek to Block Apex Acquisition, Citing Chinese-Hacking Concerns
- April 2016: Lexmark Reports First-Quarter Loss; Enterprise Software Revenue Up, but Imaging Solutions Revenue Down
- February 2016: Slow Quarter for Lexmark; Job Cuts Planned; ‘Positive Interest’ for Possible Sale
- October 2015: Lexmark Reports Third-Quarter Results; Exploring ‘Strategic Alternatives’; Sale Rumored
- April 2015: Lower Revenue at Lexmark for First Quarter, But Meets Earnings Forecast
- April 2015: Lexmark Launches New Tagline, ‘Open the Possibilities,’ and Logo
- January 2015: Lexmark Reports Loss for Fourth Quarter, but Seventh Consecutive Quarter of Revenue Growth
- January 2015: Lexmark Acquires Claron, Provider of Medical-Imaging and Distribution Software
- November 2014: ReadSoft is Now Officially Part of Lexmark International, Merged into Perceptive Software
- October 2014: Strong Quarter for Lexmark; MPS and Perceptive Software Revenue Forecast to Reach $1 Billion
- July 2014: Strong Quarter for Lexmark; Growth in MPS; Increases Full-Year Outlook