Business appliance maker Lexmark International, Inc. announced record financial results for its fourth quarter and full-year ended Dec. 31, 2004. Fourth quarter revenue was U.S. $1.5 billion, an increase of 13 percent compared to $1.3 billion in 2003.
Laser and inkjet printer revenue increased 16 percent year-over-year and revenue from laser and inkjet supplies increased 13 percent. Diluted net earnings per share for the quarter were $1.18, up 12 percent compared to $1.05 in the same quarter of 2003.
Revenue for the full-year period ended Dec. 31, 2004 was $5.3 billion, an increase of 12 percent compared to $4.7 billion in the same period of 2003. Gross profit margin was 33.7 percent, up 1.2 points from the prior year. Net earnings per share on a diluted basis increased 28 percent in 2004 to $4.28.
In the first quarter of 2005, the company said it expects a year-over-year revenue growth rate of mid- to high-single digits and earnings per share of $0.95 to $1.05. This compares to earnings per share of $0.91 in the same quarter of 2003. The company said it believes that the strength of its product line and its supplies-driven business model will keep it well positioned for continued growth, however uncertainty in the economy and the potential for aggressive price competition continue.
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