lexmark international inc-a (LXK) Key Developments
Lexmark International Inc. Announces Executive Changes
May 21 15
On May 21, 2015, Lexmark International Inc. announced that Mr. Scott T.R. Coons, the company's Vice President and President of Enterprise Software, has decided to retire, effective as of July 31, 2015. Mr. Reynolds C. Bish, CEO of Kofax, will succeed Mr. Coons as President of Lexmark’s Enterprise Software, effective immediately. Mr. Coons will assist in the leadership transition until his Retirement Date. Bish will also be a Lexmark vice president and report directly to Paul Rooke, the company's chairman and chief executive officer. Bish has been active in enterprise software markets for more than 20 years.
Lexmark Launches Perceptive Checklist Capture
May 12 15
Lexmark announced the availability of Perceptive Checklist Capture, a new solution that automates the process of gathering related documents and data from desktop, mobile and smart multi-functional (MFP) devices, streamlining the capture process and freeing knowledge workers to focus on customer service and compliance. By removing manual steps, Perceptive Checklist Capture also improves accuracy by reducing the rate of misfiled or misclassified content. In the field, Perceptive Checklist Capture enables users to take photos and capture other content with a mobile device, such as a phone or tablet. In the office, users can scan documents at an integrated Lexmark smart MFP or capture files at a desktop computer, then immediately add them to a project or case folder. Leveraging the Perceptive Evolution platform, the capture interface is similar across all devices and platforms, for a consistent and unified experience. Perceptive Checklist Capture updates the project or case folder in real-time, enabling users to track the project’s status. The system notifies users when a document is missing or incomplete, and delivers information directly to the user’s core business system while storing the document in a central repository for speedy retrieval. For example, a loss prevention agent arriving at the location of a reported external theft incident launches an app on his mobile phone, with immediate access to his open case folders. As he opens the active case, he is presented a checklist of outstanding items that need to be collected and notes that the only item missing is photo evidence. Directly from this checklist interface, he selects that item, then takes a photo which creates the relevant photo evidence that is automatically added to the folder. As the checklist is now complete, this case is automatically flagged as ready for review.
Lexmark International Inc. Provides Earnings Guidance for the Year 2015
May 5 15
Lexmark International Inc. provided earnings guidance for the year 2015. For the year, total revenue is expected to decline 3% to 5% year-to-year driven by a 6% currency headwind. Year-to-year gross margin is expected to be flat to down and operating expenses are expected to decrease. Earnings per share are expected to be $3.70 at guidance range midpoint and cash generation is expected to be 90% to 100% of net income.
Lexmark International Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter of and Full Year of 2015
Apr 28 15
Lexmark International Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported revenue of USD 852.0 million compared to USD 877.7 million a year ago. Operating income was USD 42.2 million compared to USD 53.9 million a year ago. Earnings before income taxes were USD 33.7 million compared to USD 45.3 million a year ago. Net earnings were USD 19.7 million compared to USD 29.3 million a year ago. Diluted earnings per share were USD 0.32 compared to USD 0.46 a year ago. Non-GAAP net earnings were USD 51 million compared to USD 58 million a year ago. EBITDA was USD 107 million compared to USD 119 million a year ago. Adjusted EBITDA was USD 123 million compared to USD 137 million a year ago. Non-GAAP earnings per share were USD 0.81 compared to USD 0.92 a year ago. In the first quarter of 2015, free cash flow was USD 47 million compared with USD 34 million in the first quarter of 2014.
The company provided earnings guidance for the second quarter of and full year of 2015. For the quarter, the company expects GAAP earnings per share in the range of USD 0.07 per share to USD 0.17 per share. Non-GAAP earnings per share of USD 0.75 to USD 0.85. For the second quarter, outlook is for revenue to be down 2% to 4% year-to-year or up 4% to 6% at constant currency. The company expects core revenue to be about flat for the second quarter or grow 7% to 9% at constant currency. For the second quarter, the company expects gross profit margin as a percent of revenue to be down year-to-year. Operating income as a percent of revenue is expected to be down year-to-year. The outlook reflects a static non-GAAP tax rate of 30%. This rate is down 0.6% year-over-year.
For the year, the company expected GAAP earnings per share in the range of USD 1.42 per share to USD 1.62 per share. Non-GAAP earnings per share of USD 3.60 to USD 3.80. The company's calendar year 2015 outlook for free cash flow remains at 90% to 100% of non-GAAP net income. For the full year, the company expects to deliver free cash flow within targeted range of 90% to 100% of non-GAAP net income. This outlook reflects newly adopted static non-GAAP tax rate of 30%. For calendar year 2015, free cash flow is expected to be 90% to 100% of non-GAAP net income.
Lexmark International Inc. Declares Quarterly Dividend on Class A Common Stock, Payable on June 12, 2015
Apr 21 15
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 June 12, 2015, to shareholders of record as of the close of business on May 29, 2015.