LXK Q4 Profits Jump

The fourth-quarter net income at Lexmark International Group Inc (NYSE: LXK) rose to $59.8 million, or $0.76 a share, from $18.1 million, or $0.23 a share, in the year-ago period.

The printing and imaging group recorded an increase in its adjusted earnings to $1.16 a share from $0.75, as compared to the Street view of $0.62 a share. LXK’s revenues for the quarter slipped to $1.07 billion from $1.08 billion in the comparable quarter last year. The results exceeded analysts expectation of $987.51 million.

LXK has forecasted its profits for the first quarter at $0.64-$0.74 a share, or $0.80-$0.90 excluding charges. Analysts expect the company to earn $0.63 a share for the period.

LXK jumped 8.96% to $29.20 in pre-market trading.