Lexmark Earnings: Weak Demand in Printer Supplies & Hardware Negatively Impacts Revenue & Guidance

The company posted a 6% decline (flat in constant currency) in revenues to $868 million, even as its high-value managed printer services and Perceptive software businesses (including the recently acquired Kofax) delivered 28% growth (37% in constant currency). The most encouraging news in the announcement was that the higher value business revenue exceeded an annualized $1.5 billion and makes up 43% of total revenues. It's imaging solutions and services revenues declined by 16%. Within the ISS division, managed print services revenue grew by 1% year over year to $207 million; non-MPS revenue declined by 18% to $465 million as softness in laser hardware and supplies persisted in Q3.

from Forbes Real Time http://onforb.es/1ilHdfy