Shares of Lexmark International (LXK - Get Report) were among the NYSE's losers Tuesday, falling 6% after the printer maker posted mixed fourth-quarter results and gave a lower-than-expected guidance.
For the fourth quarter, Lexmark earned $89.9 million, or 91 cents a share, on revenue of $1.37 billion. Excluding certain items, earnings were $1.05 a share. Analysts polled by Thomson Financial expected earnings of 95 cents a share, before items, on revenue of $1.38 billion. During the year-earlier period, the company earned $82.3 million, or 71 cents a share, on revenue of $1.37 billion.
Looking ahead, Lexmark forecast first-quarter adjusted earnings of 93 cents to $1.03 a share, below analysts' forecast of $1.04. The company anticipates a year-over-year revenue decline in the low- to mid-single digit percentage. Analysts project revenue of $1.28 billion, which is roughly flat with year-ago results. Shares of Lexmark were down $4.07 to $62.53.
Shares of 3M (MMM - Get Report) fell 5% after the conglomerate issued a 2007 earnings guidance that disappointed investors. In the fourth quarter, 3M earned $1.18 billion, or $1.57 a share, on revenue of $5.78 billion. Excluding a gain on the sale of its pharmaceutical business, the company earned $1.10 a share. Analysts expected earnings of $1.14 a share, before items, on revenue of $5.76 billion. During the year-earlier quarter, 3M earned $746 million, or 97 cents a share, on revenue of $5.33 billion.For 2007, 3M forecast earnings of $5.20 to $5.45 a share. The guidance includes a gain of 60 cents to 70 cents a share for the sale of its pharmaceutical unit in Europe. The forecast also includes stock-based compensation costs of 21 cents a share. Analysts project earnings of $4.99 a share. Shares were trading down $3.53 to $75.43.