Lexmark shares fall 7% on cut in earnings outlook
7/13/12 9:42 AM ET (MarketWatch)
SAN FRANCISCO (MarketWatch) -- Lexmark International Inc. shares fell 7%, to $22.62 Friday after the printing and imaging company cut its second-quarter outlook. Late Thursday, Lexmark said it expects to earn between 53 cents and 55 cents a share, or 87 cents to 89 cents a share, excluding one-time items for the quarter. Lexmark had previously forecast earnings of 65 cents to 75 cents a share, or 95 cents to $1.05 a share for its second quarter. The company said weak demand in Europe was the main source of its earnings shortfall. Lexmark is scheduled to give its full quarterly report on July 24.