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Lexmark results top expectations

Boosted by continued strong sales of inkjet and toner cartridges, printer maker Lexmark International Group on Monday reported it earned $94.6 million, or 73 cents per share, in the first quarter, on revenue of $1.11 billion. Earnings came in narrowly ahead of analysts' estimates and compare with earnings of $71.5 million, or 53 cents per share, on revenue of $1.05 billion in the same quarter a year ago.

The company said sales increased by about 7 percent in this year's first quarter from the effect of foreign currency translation. For the current quarter, Lexmark said aggressive price competition continues, but said it nonetheless expects some revenue growth from last year's second quarter and sees its per-share earnings "in the range of 70 (cents) to 80 cents, versus 67 cents reported in 2002."