The following appears on marketwatch.com

By  – Lexmark International Inc. narrowed its loss in the final quarter of the year and earnings beat expectations, though revenue fell worse-than-expected as enterprise software growth and margin expansion were offset by the stronger dollar and the company’s exit from its inkjet printing business.

Lexmark Managed Print Services for retail

Lexmark also announced a restructuring program targeting increased profitability and operations in its imaging solutions and services segment by which 550 jobs–or about 4% of the workforce–will be eliminated in the next 12 months. The company said some of the positions are being moved to low-cost countries. The program, in response to foreign currency challenges and aligned with the continuing strategic alternatives process, will generate about $67 million in savings in 2016 and $100 million annually starting in 2017. Restructuring charges are expected to be $59 million in the year.

In October, the maker of printers, enterprise software and hardware said it is working with investment bank Goldman Sachs Group Inc. to explore strategic alternatives, including a possible sale, as its price share doesn’t fully reflect the value of the company. During the previous quarter’s earnings call with analysts and investors, the company said it would consider a spinoff of a portion of or a sale of the entire company.

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