*NEWS*XEROX PROFITS TO RISE 38% FOR 2004?

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*NEWS*XEROX PROFITS TO RISE 38% FOR 2004?

 user 2003-11-14 at 11:35:00 am Views: 124
  • #8489

    Xerox Has Analysts Primed for Good News 

    Restructured Xerox Prompts Lofty Expectations; Analysts See Profit Rise of 38 Percent Next Year

    Bruised by Management problems, competition, a falling stock price and an accounting scandal, Xerox Corp. has survived. The copier and printer company still has many challenges but just marked three years since embarking on a turnaround strategy aimed at duplicating its previous success.

    Analysts have develop lofty expectations for Xerox, which has introduced numerous new products and cut costs substantially as it returned to profitability last year. . . .Xerox still faces stiff competition and ongoing legal issues. Its revenues have fallen for more than three years.

    “I think they’re back on solid financial ground. But they really need to show they can grow the business,” said James Lundy, research vice president with Gartner Inc. “They’re floating in a boat in the water, but they haven’t fired up that engine yet.”

    Company officials have been hailing a growth in equipment sales and gains in market share in some segments and declared the turnaround phase of the company over.

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