Lexmark records a 9% decline in its fourth quarter and the whole 2012 earnings report, as the company continuing the reconstruction.
For the fourth quarter, Lexmark reports revenue of $968 million, 9% decline compared with the same time last year. Imaging Solutions and Services (ISS) revenue dropped 10% to $925 million. Inkjet business declined 26% after Lexmark announced to cut the segment in August, 2012. Also in the ISS segment, MPS provided the highlight, recording a 3% revenue growth to $170 million.
For the whole fiscal year 2012, the company saw its revenue drop 9% to $968 million. Revenue from ISS was $3.642 billion, 11% lower than 2011. MPS revenue grew 7% to $624 million.
Speaking of the earning results, Lexmark is confident to continue its reconstruction in 2013. The company has strengthened its solutions portfolio through four software company acquisitions. By launching significant laser line advancements with solutions-enabled devices, Lexmark is also looking to extend its market share in MPS and high-end workgroup markets.
“We are expecting to deliver savings of $85 million in 2013 from the actions announced last August, and we are well positioned to generate positive free cash flow as we have for each of the past 11 years,” said Paul Rooke, Lexmark chairman and chief executive officer, “We continue to execute on our capital allocation strategy of rewarding shareholders through share repurchases and dividends while pursuing acquisitions that further expand and strengthen our solutions offerings.”