Lexmark International Inc. (LXK, Financial) filed Quarterly Report for the period ended 2010-06-30.
Lexmark International Inc. has a market cap of $3.06 billion; its shares were traded at around $38.98 with a P/E ratio of 8.8 and P/S ratio of 0.8. LXK is in the portfolios of Third Avenue Management, David Dreman of Dreman Value Management, Stanley Druckenmiller of Duquesne Capital Management, LLC, Jim Simons of Renaissance Technologies LLC, Bruce Kovner of Caxton Associates, Paul Tudor Jones of The Tudor Group, George Soros of Soros Fund Management LLC, Chuck Royce of Royce& Associates, Jeremy Grantham of GMO LLC, Steven Cohen of SAC Capital Advisors.
Net earnings for the six months ended June 30, 2010 increased 137% from the prior year primarily due to higher gross profit. Net earnings for the six months ended June 30, 2010 included $23.3 million of pre-tax restructuring-related charges and project costs along with $8.4 million of pre-tax acquisition-related adjustments. Net earnings for the six months ended June 30, 2009 included $44.7 million of pre-tax restructuring-related project costs.
Gross profit for the three months ended June 30, 2010 included $4.2 million of pre-tax restructuring-related charges and project costs along with $2.9 million of acquisition-related adjustments. Gross profit for the six months ended June 30, 2010 included $11.7 million of pre-tax restructuring-related charges and project costs along with $2.9 million of acquisition-related adjustments.
For the three and six months ended June 30, 2010, the Company incurred $4.5 and $11.6 million, respectively, of pre-tax restructuring and related charges and project costs due to the Company s restructuring plans. Of the $4.5 million of pre-tax restructuring and related charges and project costs incurred for the three months ended June 30, 2010, $3.2 million is included in Selling, general and administrative while $1.3 million is included in Restructuring and related charges on the Company s Consolidated Condensed Statements of Earnings. Of the $11.6 million of
pre-tax restructuring and related charges and project costs incurred for the six months ended June 30, 2010, $7.1 million is included in Selling, general and administrative while $4.5 million is included in Restructuring and related charges on the Company s Consolidated Condensed Statements of Earnings. Additionally, for the three and six months ended June 30, 2010, the Company incurred $5.4 million of pre-tax costs associated with acquisition-related adjustments that is included in Selling, general and administrative on the Company s Consolidated Condensed Statements of Earnings.
For the three and six months ended June 30, 2009, the Company incurred $10.1 and $18.2 million, respectively, of pre-tax restructuring and related charges and project costs due to the Company s restructuring plans. Of the $10.1 million of pre-tax restructuring and related charges and project costs incurred for the three months ended June 30, 2009, $5.0 million is included in Selling, general and administrative while $5.1 million is included in Restructuring and related charges on the Company s Consolidated Condensed Statements of Earnings. Of the $18.2 million of pre-tax restructuring and related charges and project costs incurred for the six months ended June 30, 2009, $10.5 million is included in Selling, general and administrative while $7.7 million is included in Restructuring and related charges on the Company s Consolidated Condensed Statements of Earnings.
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Lexmark International Inc. has a market cap of $3.06 billion; its shares were traded at around $38.98 with a P/E ratio of 8.8 and P/S ratio of 0.8. LXK is in the portfolios of Third Avenue Management, David Dreman of Dreman Value Management, Stanley Druckenmiller of Duquesne Capital Management, LLC, Jim Simons of Renaissance Technologies LLC, Bruce Kovner of Caxton Associates, Paul Tudor Jones of The Tudor Group, George Soros of Soros Fund Management LLC, Chuck Royce of Royce& Associates, Jeremy Grantham of GMO LLC, Steven Cohen of SAC Capital Advisors.
Highlight of Business Operations:
Net earnings for the second quarter of 2010 increased 400% from the prior year primarily due to higher gross profit. Net earnings for the second quarter of 2010 included $8.7 million of pre-tax restructuring-related charges and project costs along with $8.4 million of pre-tax acquisition-related adjustments. Net earnings for the second quarter of 2009 included $31.7 million of pre-tax restructuring-related charges and project costs.Net earnings for the six months ended June 30, 2010 increased 137% from the prior year primarily due to higher gross profit. Net earnings for the six months ended June 30, 2010 included $23.3 million of pre-tax restructuring-related charges and project costs along with $8.4 million of pre-tax acquisition-related adjustments. Net earnings for the six months ended June 30, 2009 included $44.7 million of pre-tax restructuring-related project costs.
Gross profit for the three months ended June 30, 2010 included $4.2 million of pre-tax restructuring-related charges and project costs along with $2.9 million of acquisition-related adjustments. Gross profit for the six months ended June 30, 2010 included $11.7 million of pre-tax restructuring-related charges and project costs along with $2.9 million of acquisition-related adjustments.
For the three and six months ended June 30, 2010, the Company incurred $4.5 and $11.6 million, respectively, of pre-tax restructuring and related charges and project costs due to the Company s restructuring plans. Of the $4.5 million of pre-tax restructuring and related charges and project costs incurred for the three months ended June 30, 2010, $3.2 million is included in Selling, general and administrative while $1.3 million is included in Restructuring and related charges on the Company s Consolidated Condensed Statements of Earnings. Of the $11.6 million of
pre-tax restructuring and related charges and project costs incurred for the six months ended June 30, 2010, $7.1 million is included in Selling, general and administrative while $4.5 million is included in Restructuring and related charges on the Company s Consolidated Condensed Statements of Earnings. Additionally, for the three and six months ended June 30, 2010, the Company incurred $5.4 million of pre-tax costs associated with acquisition-related adjustments that is included in Selling, general and administrative on the Company s Consolidated Condensed Statements of Earnings.
For the three and six months ended June 30, 2009, the Company incurred $10.1 and $18.2 million, respectively, of pre-tax restructuring and related charges and project costs due to the Company s restructuring plans. Of the $10.1 million of pre-tax restructuring and related charges and project costs incurred for the three months ended June 30, 2009, $5.0 million is included in Selling, general and administrative while $5.1 million is included in Restructuring and related charges on the Company s Consolidated Condensed Statements of Earnings. Of the $18.2 million of pre-tax restructuring and related charges and project costs incurred for the six months ended June 30, 2009, $10.5 million is included in Selling, general and administrative while $7.7 million is included in Restructuring and related charges on the Company s Consolidated Condensed Statements of Earnings.
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