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Last $34.48 USD
Change Today +0.57 / 1.68%
Volume 1.5M
LXK On Other Exchanges
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New York
Stuttgart
As of 8:04 PM 07/29/15 All times are local (Market data is delayed by at least 15 minutes).

lexmark international inc-a (LXK) Key Developments

Lexmark International Inc. Declares Quarterly Cash Dividend Payable on Sept. 11, 2015

Lexmark International Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.36 per share of Lexmark Class A Common Stock. The dividend is payable on Sept. 11, 2015, to shareholders of record as of the close of business on Aug. 28, 2015.

Lexmark International Launches Kofax Claims Agility

Lexmark International Inc. launched Kofax Claims Agility™, an ICD-10 compliant software solution that automatically processes institutional and professional medical claims and supporting documents. It captures, extracts and validates all patient, provider and service line data, identifies invalid medical codes and enables knowledge workers to quickly review or correct errors and to accept, escalate or deny claims as appropriate. Kofax Claims Agility replaces manual, paper-based processes with a complete digital solution, improves operational efficiency, and speeds identification of problematic claims and resolution with providers. It also enables validation workers to make a more informed decision about the next appropriate action, expedites the transition of ‘clean claims’ and corrected claims into the downstream adjudication process, and reduces the cost of claims processing. This new solution solves the overwhelming paper challenges insurers face due to the influx of more than 15 million people brought into the healthcare system through the Affordable Care Act, which has resulted in an estimated 190 million new claims, with an estimated 15 million of those being paper-based. Kofax Claims Agility accelerates claims automation projects for health insurance carriers, property and casualty insurance companies processing injury claims, large healthcare providers and third-party administrators. Designed to process medical claims quickly and efficiently, Claims Agility is built on the TotalAgility smart process application platform that enables organizations to quickly integrate with back-end systems, create new processes that fit their environment, and monitor, analyze and improve system and user performance through operational analytics. Customers can also take advantage of additional functionality contained in the TotalAgility platform, including customer communications management, information integration, mobile, and e-signature, and leverage these capabilities at any point in the process to minimize workflow gaps and maximize provider and subscriber satisfaction.

Lexmark to Layoff 500 Jobs Worldwide Due to Restructuring

Lexmark announced to eliminate 500 jobs worldwide due to restructuring. The restructuring impacts are related to the Lexmark's acquisition of Kofax and ReadSoft and are expected to be broad-based, but are primarily expected to capture the anticipated cost and expense synergies of those acquisitions. The primary restructuring impact will be general and administrative, marketing and development positions, and the consolidation of regional offices.

Lexmark International Inc. Announces Unaudited Consolidated Financial Results for the Second Quarter and Half Year Ended June 30, 2015; Provides Financial Guidance for the Third Quarter and Full Year of 2015

Lexmark International Inc. announced unaudited consolidated financial results for the second quarter and half year ended June 30, 2015. For the quarter, total revenue was $879.3 million against $891.8 million a year ago. Operating loss was $19.2 million against earnings of $62.4 million a year ago. Loss before income taxes was $28.6 million against earnings of $54.7 million a year ago. Net loss was $36.3 million or $0.59 per diluted share against earnings of $37.5 million or $0.59 per diluted share a year ago. EBITDA was $58 million against $127 million a year ago. Adjusted EBITDA was $139 million against $144 million a year ago. Non-GAAP net earnings were $60 million or $0.97 per diluted share against $62 million or $0.99 per diluted share a year ago. Non-GAAP revenue was $891 million against $894 million a year ago. Non-GAAP operating income was $95 million against $98 million a year ago. Net cash used in operating activities was $9 million compared with net cash flow provided by operating activities of $102 million in the second quarter of 2014. Net debt was $924 million. This includes cash minus credit facilities of $368 million and long-term bonds of $700 million. This compares to net cash of $331 million in the same period last year. Core revenue was $856 million grew 3%, up 11% at constant currency. Capital expenditures were $28 million compared to $26 million in the same quarter last year. Free cash flow was $37 million compared with $76 million in the second quarter of 2014. For the half year, total revenue was $1,731.3 million against $1,769.5 million a year ago. Operating income was $23.0 million against $116.3 million a year ago. Earnings before income taxes were $5.1 million against $100 million a year ago. Net loss was $16.5 million or $1.05 per diluted share against earnings of $66.8 million or $1.05 per diluted share a year ago. EBITDA was $165 million against $247 million a year ago. Adjusted EBITDA was $262 million against $281 million a year ago. Non-GAAP net earnings were $110 million or $1.80 per diluted share against $121 million or $1.90 per diluted share a year ago. Non-GAAP revenue was $1,746 million against $1,775 million a year ago. Non-GAAP operating income was $175 million against $190 million a year ago. Third quarter 2015 revenue, core revenue is expected to increase 3% to 5% year to year. Total revenue is expected to be in the range of -1% to +1% year to year. GAAP EPS are expected to be around -$0.48 to -$0.38. Non-GAAP EPS are expected to be around $0.51 to $0.61 on a revenue range of $908.9 million to $927.3 million. Full-year 2015, Core revenue is expected to increase 3% to 5% year to year. Total revenue is expected to be in the range of -1% to +1% year to year. GAAP EPS are expected to be around -$0.49 to -$0.29. Non-GAAP EPS are expected to be around $3.55 to $3.75 on a revenue range of $3.67 billion to $3.75 billion.

Lexmark Launches Kofax View+ for Microsoft Outlook

Lexmark International Inc. announced the availability of Kofax View+™, the first document viewing, editing and PDF creation application for Outlook. Kofax View+ works directly with Outlook and Outlook for Office 365 user interfaces, allowing users to complete collaborative tasks "including image viewing and editing, document merging, and PDF creation "without leaving the Outlook application interface. Kofax View+ makes it easier to generate PDF documents, increasing productivity and fostering better collaboration throughout email workflows. Kofax View+ builds on the familiar Outlook interface, reducing the need for formal user training. Remote deployment and centralized management of Kofax View+ reduces administrative costs when compared to locally installed desktop applications with similar capabilities. Kofax View+ is a free showcase application that can be leveraged by enterprises of all sizes that rely on Outlook for document collaboration.

 

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