Printer company Lexmark says it remains cautious about its outlook due to weak market conditions and the potential for aggressive competition and pricing. Fourth quarter net income fell due to continued market weakness. Revenues for the period were up 5% on the year previously, but profits were down to $37 million from $55 million a year earlier.
Revenues in the current quarter are expected to be flat on a year-over-year basis but down on the fourth quarter due to seasonality. However the company expects gross margin to improve sequentially due to a higher mix of supplies. Printing supplies now account for 46% of revenues, up from 39% in the prior year.
25-Jan-2002
