Revenue for the third quarter of 2009 was $958 million, a decrease of 15% compared to the same quarter of 2008.

For the third quarter of 2009, gross profit margin was 32.7% versus 32.5% in 2008. Operating income margin of 2.5% includes $51 million pre-tax restructuring-related charges. Operating income margin in 2008 of 4.8% included $25 million pre-tax restructuring-related charges.

Lexmark plans additional restructuring initiatives designed to streamline its worldwide organization to improve operating efficiencies and effectiveness. The company continues to focus on refining its selling and service organization, reducing its general and administrative expenses, consolidating its cartridge manufacturing capacity, and enhancing the efficiency of its supply chain infrastructure.

These plans include reductions primarily in the areas of manufacturing and supply chain, service delivery overhead, marketing and sales support, corporate overhead, and development. The company expects these actions to be principally complete by the end of the first quarter of 2011.

Paul Curlander, chairman and CEO of Lexmark, said: "Stronger than expected customer demand drove good sequential growth for Lexmark, exceeding our expectations in the third quarter.

"We continued significant expense reductions now totaling $180 million year to date and announced additional expense and cost actions. We delivered a strong sequential increase in our cash flow, and our overall financial position remains strong with over $900 million in cash and current marketable securities."

A service of YellowBrix, Inc.