Lexmark has significantly lowered revenue expectations for 2009 citing slumping demand for printing hardware and unfavorable currency trades. Lexmark was initially expecting $0.70-$0.80 EPS, now the company has lowered expected EPS to $0.71-$0.67. The company also announced it will incur $0.52 per share in closing costs as a result of its plans to cut 375 jobs in 2009 which will save the company $50 million per year.