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Lexmark recently announced restructuring actions necessary to drive improved profitability and significant savings. Strategically, the company is focusing its investments on higher-value imaging and software solutions and believes the synergies between imaging and the emerging software elements of its business will continue to drive growth across the organization as Lexmark delivers greater value for its customers.
The company also announced an additional
$100 million in share repurchases to be executed during the remainder of 2012.
Lexmark announced restructuring actions, including the exiting of the development and manufacturing of the company's remaining inkjet hardware, which are expected to result in annualized savings of $95 million once fully implemented. To access the news release, click here, and for the announcement presentation information, click here.
Lexmark announced financial results for the second quarter of 2012. To access the earnings news release, click here, and for the earnings presentation information, click here.
Customer News and Recognition
Lexmark, Perceptive Software and Brainware each announced important contract wins in the quarter for printing technology and software. In addition, Lexmark earned third-party recognition for its innovative color workgroup devices after rigorous testing, as well as Scan to Sharepoint, a convenient solution for scanning hard copy documents into digital format.