Printer manufacturer Lexmark has exceeded analysts expectations with its fourth-quarter earnings.

It beat Wall Street estimates for its fourth quarter, and predicts first-quarter 2001 results to meet current estimates. Its net income was $55 million for the quarter, or 64 cents per share before non-recurring charges of 22 cents associated with its restructuring plan.

This contrasts with Lexmark's $99.7 million income in its fourth quarter the year before. Lexmark shares fell less than one per cent on the news. Lexmark expects to yield first-quarter earnings of 55 to 61 cents per share, compared to analysts expectations of 58 cents.

Lexmark began a major business restructuring exercise last October, which involved shedding 900 employees.