Printer manufacturer Lexmark has posted lower first quarter profits as a result of slow demand for hardware, but saw strong sales in its consumables business. Sales of its all-in-one multifunctional products were also up.
Net income dropped to $71.5 million, from $79.7 million a year ago. Revenue was $1.05 billion, compared to $988 million. Revenue from ink cartridges and other supplies for laser and inkjet printers increased 16% to $546 million and supplies now account for 52% of total revenue, compared to 48% a year ago.
23-Apr-2002
