The following appears on Forbes.com
Lexmark International released its Q3 earnings after market close on October 27th. The company posted a 6% decline (flat in constant currency) in revenues to $868 million, even as its high-value managed printer services and Perceptive software businesses (including the recently acquired Kofax) delivered 28% growth (37% in constant currency).
The most encouraging news in the announcement was that the higher value business revenue exceeded an annualized $1.5 billion and makes up 43% of total revenues. It’s imaging solutions and services revenues declined by 16%. Within the ISS division, managed print services revenue grew by 1% year over year to $207 million; non-MPS revenue declined by 18% to $465 million as softness in laser hardware and supplies persisted in Q3. Additionally, Lexmark’s Perceptive software division continued to post growth as revenues grew by 92% to $165 million.
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