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| LXK > SEC Filings for LXK > Form 8-K on 21-Apr-2009 | All Recent SEC Filings |
21-Apr-2009
Results of Operations and Financial Condition, Costs Associated wi
On April 21, 2009, Lexmark International, Inc. (the "Company") issued a press release announcing its financial results for the first quarter ended March 31, 2009. The text of the press release announcing the financial results and the Supplemental Information Slides providing additional financial information are furnished herewith as Exhibits 99.1 and 99.2, respectively, and are incorporated herein by reference.
As part of the Company's ongoing plan to consolidate manufacturing capacity and reduce costs and expenses worldwide, the Company today announced the planned closure of its inkjet cartridge manufacturing facility in Juarez, Mexico by the end of the first quarter of 2010 as well as the continued restructuring of its worldwide workforce (the "April 2009 Restructuring Plan"). This April 2009 Restructuring Plan is expected to impact about 360 positions worldwide, with approximately 270 coming from the closure of the facility in Juarez, Mexico. The Company expects the April 2009 Restructuring Plan will result in pre-tax charges of approximately $50 million with cash costs estimated at $10 million. The Company expects the April 2009 Restructuring Plan to be substantially completed by the end of the first quarter of 2010 and currently expects total 2010 savings of more than $20 million, with more than $5 million in savings in 2009. The text of the press release announcing the workforce reduction and facility closure is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
(d) Exhibits
Exhibit No. Description of Exhibit
99.1 Press Release issued by Lexmark International, Inc.,
dated April 21, 2009.
99.2 Supplemental Information Slides
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The information contained in this Current Report shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liability of that section, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
The press release contains non-GAAP financial measures. For purposes of Regulation G, a non-GAAP financial measure is a numerical measure of a registrant's historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows (or equivalent statements) of the issuer; or includes amounts, or
is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. In this regard, GAAP refers to generally accepted accounting principles in the United States. Pursuant to the requirements of Regulation G, the Company has provided reconciliations between the GAAP and non-GAAP financial measures contained in the press release in the financial statements attached thereto and in the Supplemental Information Slides posted on the Company's investor relations website, each of which are filed herewith as Exhibits 99.1 and 99.2, respectively.
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