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Lexmark shares fall following profit announcement

Thursday 26 April, 2007

In news which may be of interest to users of Lexmark printer cartridges and Lexmark laser printers, shares in Lexmark International have fallen following a recent profit announcement.

Shares in the company have fallen by over nine per cent following the recent quarterly announcement, which showed profit levels falling short of Wall Street's expectations, reports Reuters.

Indeed, on the back of the announcement, an analyst at Goldman Sachs maintained a "sell" rating on Lexmark stock.

"The results validate our thesis that Lexmark's earnings are being impacted by higher [costs] required to rebuild business," said Shannon Cross, an analyst with Cross Research.

"Lexmark's results would have been even lower this quarter if inkjet unit shipments had grown, as the Street was expecting," she added.

Lexmark offers products - including the Lexmark C510 - to a range of customers, including home and small business users.

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