Lexmark, the world's second-biggest printer manufacturer, yesterday promised better-than-expected third quarter results.
Lexmark expects per-share earnings in the range of 68-70 cents, after previously forecasting profits in the 58-68 cent range for the period, which ended in September. The company also expects revenue growth to be 4-5 per cent higher than a year ago.
The company’s stock climbed 12 per cent in response to the revelation, closing at $51.40. Although Lexmark did not offer any reason for the news, it has experienced strong ink-cartridge and fax/printer/scanner sales in recent quarters.
Lexmark predicts fourth-quarter growth in the low to mid-single digits, and earnings per share of 67-77 cents. Analysts had previously expected 72 cents earnings per share.