Lexmark International on Tuesday announced third-quarter earnings of 95 cents per share, up slightly from 94 cents per share in the third quarter of 2012.
Lexmark chairman and CEO Paul Rooke said that the results show that Lexington-based Lexmark is squarely focused on achieving its goal of evolving "from a printing solutions provider to an unstructured information solutions provider."
That is particularly the case with recent acquisitions that give Lexmark a foothold in the booming business of medical data, expected to grow exponentially with the implementation of the Affordable Care Act, often referred to as Obamacare.
Rooke said that Lexmark is poised "to be the only one that can aggregate that unstructured content in one place and make it easy for a doctor or a health care professional to get a complete view of the patient."
Never miss a local story.
Lexmark reported a profit of $28.5 million, or 45 cents a share, compared with flat results a year earlier. Revenue was down 3.1 percent to $890 million.
The company had predicted adjusted earnings of 85 cents to 95 cents a share and a 4 percent to 6 percent decrease in revenue.
Rooke said that Lexmark is maintaining an ample supply of cash for possible future acquisitions.
Lexmark subsidiary Perceptive Software's revenue grew 38 percent from the same period in 2012. Free cash flow generated was $98 million.
During the quarter, Lexmark completed its $72 million acquisition of Germany-based Saperion, which provides document archive and workflow solutions.
Earlier in October, Lexmark said it is paying $54 million for PACSGEAR, which provides solutions for health providers to capture, manage and share medical images and related documents and integrate them with existing archiving and medical records.
Lexmark's earnings release said that the company expects "a continue negative impact from the decision to exit inkjet."
Rooke said that "despite an economic environment that's still a bit sluggish," he thinks that shareholders "should be encouraged by the positive signs."
Shares of Lexmark (NYSE: LXK) closed Tuesday at $38.02, up $2.21, or 6.17 percent.