LEXINGTON, Ky., Oct. 23, 2015 /PRNewswire/ --
"We are extremely proud of what the Lexmark management team and employees have accomplished in the transformation of Lexmark," said Jean-Paul Montupet, lead director of the Lexmark Board of Directors. "While the Board is encouraged by the company's future prospects, the Board does not believe Lexmark's current share price fully reflects the intrinsic value created by the company, and the Board has concluded it is appropriate to explore strategic alternatives as the next step to unlock this value."
"Our Board of Directors and management are committed to taking the appropriate actions to enhance value for Lexmark's shareholders," said Paul Rooke, Lexmark's chairman and chief executive officer. "Through the growth of the company's Higher Value Solutions revenue to approximately $1.5 billion annually and the creation of a growing and profitable Enterprise Software business, Lexmark has been able to successfully evolve from an imaging and output provider to a global technology company that provides hardware and software solutions and services to businesses worldwide.
"As the Board undertakes this exploration process, Lexmark is focused on the execution of our strategy and remains fully committed to our customers, partners, suppliers and employees, and to delivering strong financial results," stated Rooke.
Lexmark (NYSE: LXK) creates enterprise software, hardware and services that remove the inefficiencies of information silos and disconnected processes, connecting people to the information they need at the moment they need it. Open the possibilities at www.Lexmark.com.
Lexmark, the Lexmark logo and Open the possibilities are trademarks of Lexmark International, Inc., registered in the U.S. and/or other countries. All other trademarks are the property of their respective owners.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this release which are not historical facts are forward-looking and involve risks and uncertainties which may cause the company's actual results or performance to be materially different from the results or performance expressed or implied by the forward-looking statements including statements regarding the exploration of strategic alternatives, whether those strategic alternatives could maximize shareholder value and other risks described in the company's Securities and Exchange Commission filings. The company undertakes no obligation to update any forward-looking statement.
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SOURCE Lexmark International, Inc.