Shares in printer manufacturer Lexmark fell by over 11% yesterday following its announcement that it was to cut around 1,600 jobs and shut a plant in Mexico and that fourth quarter profits would fall far short of previous expectations.
The company also released its results for the third quarter, which were in line with analysts’ expectations. Profits increased to $70 million during the period, compared to $66 million a year previously, and revenues rose to $1.0 billion from $926 million - driven by sales of printers and associates supplies which increased 11% over last year.
23-Oct-2001
