Printer maker Lexmark International Inc. is facing a US$15.8 million loss as a result of a failed customer relationship management implementation.
However, the Lexington, Ky.-based company recently issued an advisory that stated the company would exceed previous expectations for its quarterly earnings, which it will announce Oct. 21.
Lexmark is anticipating earnings per share of 68 to 70 cents, as opposed to its prior estimate of 58 to 68 cents, even after “including the effect of an asset impairment related to the abandonment of a customer relationship management software project.”
Lexmark didn’t offer any details on what software vendors were involved in the project and declined to offer additional comment. The company is an Oracle Corp. customer.
However, an Oracle spokesperson stated, “Oracle was a small part of a complex, highly customized implementation that Lexmark and a third-party implementer undertook. We have many live customers on Oracle CRM.”