Lexmark's second-quarter earnings looked very much like its first-quarter earnings, with one twist — a restructuring that will eliminate 500 jobs worldwide.
The Lexington managed printing, software and laser printer company announced the news Tuesday, and in a phone interview, CEO and chairman Paul Rooke said the effect of the layoffs in Lexington would be "nominal."
He would not elaborate.
Lexmark employs 12,000 people worldwide, 2,300 in Lexington.
Never miss a local story.
The restructuring impacts are related to the Lexmark's acquisition of Kofax and ReadSoft and "are expected to be broad-based, but are primarily expected to capture the anticipated cost and expense synergies" of those acquisitions, according to a Lexmark news release.
The primary restructuring impact will be general and administrative, marketing and development positions, and the consolidation of regional offices, the news release said.
Rooke said 2016 is the year that Lexmark's recent spate of acquisitions — made in numerous countries with an eye toward solving unstructured business-information needs — should start paying off in substantial results to the bottom line.
The company expects 25 percent software margins by the end of 2016, he said.
Lexmark reported earnings of 97 cents per share for the second quarter on revenue of $891 million. That compared to 99 cents per share for the same quarter of 2014 on revenue of $894 million.
Nonetheless, Rooke said there is reason for optimism.
"We did have some very solid growth in our software business, some of that coming from the acquisition of Kofax," a California company specializing in real-time, information-intensive customer interactions. "But we did have good solid organic growth as well. ... It speaks well that our transformation is taking shape."