FEDEX KINKO’s SEES REVENUES SLIDE

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FEDEX KINKO’s SEES REVENUES SLIDE

 user 2006-09-26 at 10:17:00 am Views: 58
  • #16507

    FedEx Kinko’s sees revenue slide
    September
    2006 — Memphis (TN): FedEx Kinko’s has reported a 3 percent fall in Q1
    revenue to $504 million from $517 million a year earlier
    .
    The
    company attributes the fall to lower copy product revenues caused by
    decreased demand and a continued competitive pricing environment for
    the services.Operating income for the quarter was down 38 percent to
    $10 million compared to $16 million a year agoThe company also posted
    Q1 operating margin of 2 percent, lower than the 3.1 percent margin
    recorded in the same quarter last year.The operating margin decline was
    primarily due to revenue decline, services enhancement costs and
    network expansion initiatives.During the quarter, Kinko’s opened 31 of
    its planned 200 new smaller format stores that will double the
    company’s OP offering.