Lexmark International has announced record financial results for both the fourth quarter and full year 2003.
Fourth-quarter revenue was $US1.37 billion, an increase of 13 per cent, the highest year-to-year growth rate since the first quarter of 2000. Revenue for the full year ended December 31 was a record $US4.75 billion.
“Our fourth-quarter revenue growth was significantly over our guidance, driven by strong printer sales,” Lexmark chairman and CEO, Paul Curlander, said. “Our earnings for the quarter exceeded expectations, as we achieved higher revenue and were able to hold gross profit margins fairly stable both sequentially and year-to-year.”
For the fourth quarter, revenue was a record $US1.37 billion, a 13 per cent increase from the $US1.21 billion reported in the same period of 2002. Laser and inkjet supplies revenue of $US716 million was up by 10 per cent from $US654 million a year ago. Laser and inkjet printer revenue totalled $US560 million in the fourth quarter, an increase of 23 per cent from $456 million a year earlier.
Lexmark’s 2003 annual revenue was $US4.75 billion, an increase of 9 per cent over 2002 revenue of $US4.36 billion. Laser and inkjet supplies revenue was $US2.63 billion for the year, a 13 per cent increase from $US2.34 billion a year ago.
This represented 55 per cent of total revenue versus 54 per cent in 2002.
Laser and inkjet printer revenue grew by 8 per cent to $US1.76 billion.
Lexmark slashes cartridge prices
Lexmark has announced an immediate price reduction on inkjet and laser printer cartridges due to the continued strength of the Australian dollar.
The most recent cut is the fourth time Lexmark has reduced the price of its consumables over the last 18 months. The printer vendor made similar reductions in June and October of last year and June 2002. A total price reduction of 30 per cent has been made on cartridges in the Lexmark inkjet and laser range since mid-2002.
“This is a great way to start the new year by using this opportunity to pass further savings on to our customers,” said Henrik Stensfeldt, managing director of Lexmark Australia/NZ.