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LEXMARK, Ky. - Printer and copier maker Lexmark International Inc. on Tuesday issued third-quarter guidance below Wall Street expectations, as consumers and businesses continue to put off spending on certain items.
The company, which also supplies cartridges for its equipment, expects earnings per share — excluding one-time charges and gains — of 40 cents to 50 cents per share. Analysts polled by Thomson Reuters expect a profit of 52 cents per share.
"Global economic conditions continue to negatively impact Lexmark and the overall distributed printing market," CEO Paul J. Curlander said.
The company said it expects revenues for the three months ending in September to be less than the $904.6 million of the second quarter. Analysts expect $927.3 million.
Lexmark also reported second-quarter earnings per share down 80 percent.
In premarket trading, shares fell $1.27, or 6.8 percent, $17.50.
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