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Lexmark reports break-even earnings for Q3

October 24, 2012

Third quarter summary fails to divulge information on the sale of the OEM’s inkjet business.

As a result of a number of one-time charges

regarding the closure of its inkjet business and acquisition of software companies, Lexmark announced break-even results for Q3 2012, reports Kentucky.com.

Paul Rooke, Lexmark CEO

CEO Paul Rooke noted during the morning conference call that the OEM “remains confident in our strategy” although declined to comment on how many of the Lexington-based workers had already been laid off, preferring to remark that full-time employees are receiving severance packages.

“We’re doing everything we can to get people connected […] many of these are long-time employees who have been loyal employees for us, and we’re trying to do everything we can to help them.”

Rooke also failed to provide tangible information regarding the sale of its inkjet business: “We have an investment banker now that we’re working with […] the process is fully engaged. We’re not putting any projections of timing there, but we’re deep in the process.”

Comments were also made regarding the OEM’s recent announcement of 42 new laser printer models , among the company’s largest product launches.

“It’s a wonderful example of the investments we’re making here in Lexington in developing our core laser technology […] what we see in these sluggish economic times is customers do decide to pause and defer their purchases. They have printers, and the usage continues. It’s just when they want to refresh them.”

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