Kentucky-based printer manufacturer Lexmark yesterday reported a modest rise in its quarterly profits.

Citing lower income tax provisions and growth in laser and inkjet printers, the company reported fourth-quarter net income of $89.9-million compared to $82.3-million for the corresponding period the previous year.

Fourth-quarter revenue was $1.369-billion, only slightly up from $1.365-billion a year earlier.

Despite the increase in profits, Reuters reports that Lexmark's share price dropped 5% in early trading on Wall Street yesterday.