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Lexmark issues 1Q warning
Printer maker, offering no explanation, readies investors for possible disappointment
January 9, 2003: 5:31 PM EST

NEW YORK (CNN/Money) - Printer maker Lexmark International warned late Thursday that current-quarter profits will likely fall below Wall Street forecasts but said earnings in its December quarter beat expectations.

Shares of Lexmark fell $3.26, or 5 percent, to $63 in after-hours trading. Losses spread to rival Hewlett-Packard (HPQ: Research, Estimates), which fell 28 cents to $20.20.

Lexmark (LXK: Research, Estimates), based in Lexington, Ky., said profits in its December quarter will come in at 88 to 90 cents per share, topping the 77 cent per share consensus forecast of analysts surveyed by First Call. The results include a 3 cent benefit related to restructuring, Lexmark said.

But the printer maker said that first-quarter profit will come in at 62 to 72 cents per share, possibly missing the 72 cent per share consensus forecasts.

Lexmark offered no explanation for the probable miss and said it would "have no further comment " until Jan. 23, when the company reports detailed fourth-quarter results.  Top of page




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.