Ninestar reports first half earnings
Ninestar Corporation of Zhuhai, China, owner of Lexmark, released financial results for the first half of its fiscal year, January to June 2020.
- operating income down 8.26% to RMB 9.988 billion ($1.455 billion)
- net profit was down 3.72% to RMB 358.91 million ($51.279 million)
- Pantum division (maker of desktop printers) hardware shipments increased by more than 50%
o shipments of Pantum consumables increased by 60%
- Lexmark division reported operating income down 13.39% to RMB 7,220 billion ($1.05 billion)
o net profit up 290.62% to RMB 112.94 million ($16.46 million)
o implementing a series of cost-reduction measures.
- Consumables’ Business reported operating income up 23.37% to RMB 1,491 billion ($217.21 million)
o net profit up 1.98% to RMB 154.35 million ($22.48 million)