Lexmark reported net income of $104.1 million compared to $89.8 million in the same quarter last year, an increase of 16%.

Revenue rose 11.5 percent to $1.16 billion from $1.04 billion in the same quarter last year, better than Lexmark's July projection of revenue growth in the low- to mid-single-digit percentages.

However, the gross profit margin fell to 32.1 percent of sales from 32.5 percent a year earlier. Lexmark said lower printer margins were only partly offset by higher margins for supplies.

Although products launched this year for both home and business use put Lexmark in a good position for the fourth quarter, the company continues to be cautious because of the uncertain economic environment and aggressive price competition, Chairman and Chief Executive Paul Curlander said in a statement.

By: DocMemory
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