Lexmark International Inc. reported Tuesday a 61% jump in first-quarter profit, aided by strong sales of printers and printing supplies.
Shares of the Lexington, Ky.-based tech company /quotes/comstock/13*!lxk/quotes/nls/lxk (LXK 40.08, +0.13, +0.33%) rose 0.3% to close at $40.08.
The printer maker posted first-quarter net income of $95.3 million, or $1.20 a share, up from $59.2 million, or 75 cents, earned in the year-earlier period.
Revenue rose to $1.04 billion, up from $944 million for the same period the previous year.
On an adjusted basis, quarterly earnings would have been $1.35 a share, Lexmark said.
Analysts had expected the company to post earnings of 89 cents a share, on revenue of $961.1 million, according to a consensus survey by Thomson Reuters.
Chief Executive Paul Curlander noted in a statement that the company’s results “were significantly better than expected, reflecting strong customer demand for our hardware and supplies products.”
