{"id":16528,"date":"2016-02-25T16:47:48","date_gmt":"2016-02-25T21:47:48","guid":{"rendered":"http:\/\/www.enxmag.com\/twii\/?p=16528"},"modified":"2016-02-25T22:25:41","modified_gmt":"2016-02-26T03:25:41","slug":"lexmark-international-inc-announces-financial-results-for-the-fourth-quarter-and-full-year-of-2015","status":"publish","type":"post","link":"http:\/\/www.enxmag.com\/twii\/news\/2016\/02\/lexmark-international-inc-announces-financial-results-for-the-fourth-quarter-and-full-year-of-2015\/","title":{"rendered":"Lexmark International, Inc. Announces Financial Results for the Fourth Quarter and Full Year of 2015"},"content":{"rendered":"<p><span class=\"xn-location\">LEXINGTON, Ky.<\/span>, <span class=\"xn-chron\">Feb. 23, 2016<\/span> \/<a href=\"http:\/\/www.prnewswire.com\/\" target=\"_blank\">PRNewswire<\/a>\/ &#8212;\u00a0Lexmark International, Inc. today announced financial results for the fourth quarter and full year of 2015.<\/p>\n<p>&#8220;Lexmark had a good fourth quarter. We more than doubled fourth quarter Enterprise Software non-GAAP operating income margin year to year to 24 percent, and delivered full year MPS revenue growth for the 16<sup>th<\/sup> consecutive year,&#8221; said <span class=\"xn-person\">Paul Rooke<\/span>, Lexmark chairman and chief executive officer. &#8220;Our Higher Value Solutions now comprise more than 40 percent of Core revenue and grew 26 percent in constant currency.<\/p>\n<p>&#8220;We continue to focus on the growth and transformation of the company. In January, we announced Lexmark&#8217;s next generation of A4 color lasers and smart MFPs, which are optimized for MPS and business process solutions,&#8221; added Rooke. &#8220;In fact, these devices are already integrated with Lexmark&#8217;s recently announced Kofax Onboarding Agility solution, which automates and streamlines new customer onboarding processes.<\/p>\n<p>&#8220;At the same time we are continuing our exploration of strategic alternatives and are very pleased with the progress being made, including the positive interest we are receiving,&#8221; Rooke added. &#8220;During this process, we remain squarely focused on the execution of our strategy, our commitment to our customers, partners, suppliers and employees and driving value for our shareholders. Last week, we demonstrated our ongoing commitment to rewarding our shareholders with the announcement of our 18<sup>th<\/sup> consecutive quarterly dividend.&#8221;<\/p>\n<p><b><u>Fourth Quarter Results<\/u><\/b><\/p>\n<ul type=\"disc\">\n<li>Fourth quarter revenue and EPS reflect strong Enterprise Software growth and margin expansion, offset by the strong U.S. dollar and the ongoing exit of inkjet.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<div>\n<table class=\"prntblns\" border=\"1\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><u>Revenue (millions)<\/u><\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><u>4Q15<\/u><\/span><\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><u>4Q14<\/u><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">\u00a0\u00a0\u00a0 GAAP<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><span class=\"prnews_span\">$969<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><span class=\"prnews_span\">$1,023<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">\u00a0\u00a0\u00a0 <u>Adjustments<\/u><\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><span class=\"prnews_span\"><u>13<\/u><\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><span class=\"prnews_span\"><u>9<\/u><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">\u00a0\u00a0\u00a0 Non-GAAP<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><span class=\"prnews_span\">$982<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><span class=\"prnews_span\">$1,032<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\"><\/td>\n<td class=\"prngen5\"><\/td>\n<td class=\"prngen5\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><u>EPS<\/u><\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><u>4Q15<\/u><\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><u>4Q14<sup>1<\/sup><\/u><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">\u00a0\u00a0\u00a0 GAAP<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><span class=\"prnews_span\">-$0.17<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><span class=\"prnews_span\">-$0.37<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">\u00a0\u00a0\u00a0 <u>Adjustments<\/u><\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><span class=\"prnews_span\"><u>1.33<\/u><\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><span class=\"prnews_span\"><u>1.51<\/u><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">\u00a0\u00a0\u00a0 Non-GAAP<\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><span class=\"prnews_span\">$1.16<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><span class=\"prnews_span\">$1.14<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<p><u>Fourth Quarter GAAP Results Year-to-Year Comparisons<\/u><\/p>\n<ul type=\"disc\">\n<li>Revenue of <span class=\"xn-money\">$969 million<\/span> in 2015 compares to <span class=\"xn-money\">$1.023 billion<\/span> in 2014.<\/li>\n<li>Gross profit margin of 39.8 percent compares to 35.2 percent in the same period last year.<\/li>\n<li>Operating income margin was -2.4 and -2.1 percent in 2015 and 2014, respectively.<\/li>\n<li>EPS of &#8211;<span class=\"xn-money\">$0.17<\/span> in 2015 compares to &#8211;<span class=\"xn-money\">$0.37<\/span> in the same period last year.<\/li>\n<\/ul>\n<p><u>Fourth Quarter Non-GAAP Results Year-to-Year Comparisons<\/u><\/p>\n<ul type=\"disc\">\n<li>Revenue of <span class=\"xn-money\">$982 million<\/span> in 2015 compares to <span class=\"xn-money\">$1.032 billion<\/span> in 2014.<\/li>\n<li>Core revenue<sup>2 <\/sup>of <span class=\"xn-money\">$953 million<\/span> declined 2 percent, up 2 percent at constant currency<sup>3<\/sup>.<\/li>\n<li>Gross profit margin of 42.6 percent compares to 38.9 percent in the same period last year.<\/li>\n<li>Operating income margin was 11.6 percent and 10.7 percent in 2015 and 2014, respectively.<\/li>\n<li>Adjusted EBITDA<sup>4<\/sup> of <span class=\"xn-money\">$156 million<\/span> in 2015 compares to <span class=\"xn-money\">$152 million<\/span> in 2014.<\/li>\n<li>EPS of <span class=\"xn-money\">$1.16<\/span> in 2015 compares to <span class=\"xn-money\">$1.14<\/span> in the same period last year.<\/li>\n<\/ul>\n<p><u>Fourth Quarter Non-GAAP Segment Revenue Year-to-Year Comparisons<\/u><\/p>\n<ul type=\"disc\">\n<li>Imaging Solutions and Services (ISS)<sup>5<\/sup> revenue declined 13 percent, down 10 percent at constant currency.\n<ul type=\"circle\">\n<li>Managed Print Services (MPS)<sup>6<\/sup> revenue declined 4 percent, up 1 percent at constant currency.<\/li>\n<li>Non-MPS<sup>7<\/sup> revenue declined 14 percent, down 10 percent at constant currency.<\/li>\n<li>Inkjet Exit<sup>8<\/sup> revenue declined 50 percent, down 48 percent at constant currency.<\/li>\n<\/ul>\n<\/li>\n<li>Enterprise Software revenue was <span class=\"xn-money\">$160 million<\/span>. Excluding adjustments, Enterprise Software revenue of <span class=\"xn-money\">$174 million<\/span> grew 75 percent, up 83 percent at constant currency.<\/li>\n<\/ul>\n<p><u>Fourth Quarter Non-GAAP Higher Value Solutions Revenue Year-to-Year Comparisons<\/u><\/p>\n<ul type=\"disc\">\n<li>Lexmark&#8217;s Higher Value Solutions revenue<sup>9<\/sup> of <span class=\"xn-money\">$407 million<\/span> grew 19 percent, up 26 percent at constant currency.<\/li>\n<li>Higher Value Solutions revenue accounted for 41 percent of total revenue, up from 33 percent in the same period in 2014.<\/li>\n<\/ul>\n<p><u>Fourth Quarter Cash Flow<\/u><\/p>\n<ul type=\"disc\">\n<li>Net cash flow provided by operating activities was <span class=\"xn-money\">$103 million<\/span>.<\/li>\n<li>Free cash flow<sup>10<\/sup> was <span class=\"xn-money\">$75 million<\/span>.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>For full report, go to\u00a0<a href=\"http:\/\/newsroom.lexmark.com\/index.php?s=13630&amp;item=134919\">http:\/\/newsroom.lexmark.com\/index.php?s=13630&amp;item=134919<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LEXINGTON, Ky., Feb. 23, 2016 \/PRNewswire\/ &#8212;\u00a0Lexmark International, Inc. today announced financial results for the fourth quarter and full year of 2015. &#8220;Lexmark had a good fourth quarter. We more than doubled fourth quarter Enterprise Software non-GAAP operating income margin year to year to 24 percent, and delivered full year MPS revenue growth for the 16th consecutive year,&#8221; said Paul Rooke, Lexmark chairman and chief executive officer. &#8220;Our Higher Value Solutions now comprise more than 40 percent of Core revenue and grew 26 percent in constant currency. &#8220;We continue to focus on the growth and transformation of the company. In January, we announced Lexmark&#8217;s next generation of A4 color lasers and smart MFPs, which are optimized for MPS and business process solutions,&#8221; added Rooke. &#8220;In fact, these devices are already integrated with Lexmark&#8217;s recently announced Kofax Onboarding Agility solution, which automates and streamlines new customer onboarding processes. &#8220;At the same time we are continuing our exploration of strategic alternatives and are very pleased with the progress being made, including the positive interest we are receiving,&#8221; Rooke added. &#8220;During this process, we remain squarely focused on the execution of our strategy, our commitment to our customers, partners, suppliers and employees and driving value for our shareholders. Last week, we demonstrated our ongoing commitment to rewarding our shareholders with the announcement of our 18th consecutive quarterly dividend.&#8221; Fourth Quarter Results Fourth quarter revenue and EPS reflect strong Enterprise Software growth and margin expansion, offset by the strong U.S. dollar and the ongoing exit of inkjet. &nbsp; Revenue (millions) 4Q15 4Q14 \u00a0\u00a0\u00a0 GAAP $969 $1,023 \u00a0\u00a0\u00a0 Adjustments 13 9 \u00a0\u00a0\u00a0 Non-GAAP $982 $1,032 EPS 4Q15 4Q141 \u00a0\u00a0\u00a0 GAAP -$0.17 -$0.37 \u00a0\u00a0\u00a0 Adjustments 1.33 1.51 \u00a0\u00a0\u00a0 Non-GAAP $1.16 $1.14 &nbsp; Fourth Quarter GAAP Results Year-to-Year Comparisons Revenue of $969 million in 2015 compares to $1.023 billion in 2014. Gross profit margin of 39.8 percent compares to 35.2 percent in the same period last year. Operating income margin was -2.4 and -2.1 percent in 2015 and 2014, respectively. EPS of &#8211;$0.17 in 2015 compares to &#8211;$0.37 in the same period last year. Fourth Quarter Non-GAAP Results Year-to-Year Comparisons Revenue of $982 million in 2015 compares to $1.032 billion in 2014. Core revenue2 of $953 million declined 2 percent, up 2 percent at constant currency3. Gross profit margin of 42.6 percent compares to 38.9 percent in the same period last year. Operating income margin was 11.6 percent and 10.7 percent in 2015 and 2014, respectively. Adjusted EBITDA4 of $156 million in 2015 compares to $152 million in 2014. EPS of $1.16 in 2015 compares to $1.14 in the same period last year. Fourth Quarter Non-GAAP Segment Revenue Year-to-Year Comparisons Imaging Solutions and Services (ISS)5 revenue declined 13 percent, down 10 percent at constant currency. Managed Print Services (MPS)6 revenue declined 4 percent, up 1 percent at constant currency. Non-MPS7 revenue declined 14 percent, down 10 percent at constant currency. Inkjet Exit8 revenue declined 50 percent, down 48 percent at constant currency. Enterprise Software revenue was $160 million. Excluding adjustments, Enterprise Software revenue of $174 million grew 75 percent, up 83 percent at constant currency. Fourth Quarter Non-GAAP Higher Value Solutions Revenue Year-to-Year Comparisons Lexmark&#8217;s Higher Value Solutions revenue9 of $407 million grew 19 percent, up 26 percent at constant currency. Higher Value Solutions revenue accounted for 41 percent of total revenue, up from 33 percent in the same period in 2014. Fourth Quarter Cash Flow Net cash flow provided by operating activities was $103 million. Free cash flow10 was $75 million. &nbsp; For full report, go to\u00a0http:\/\/newsroom.lexmark.com\/index.php?s=13630&amp;item=134919 &nbsp;<\/p>\n","protected":false},"author":66,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[86],"tags":[228],"_links":{"self":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/16528"}],"collection":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/comments?post=16528"}],"version-history":[{"count":6,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/16528\/revisions"}],"predecessor-version":[{"id":16551,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/16528\/revisions\/16551"}],"wp:attachment":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media?parent=16528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/categories?post=16528"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/tags?post=16528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}