XEROX REVENUE UP 33% BUT INK IS STILL RED

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XEROX REVENUE UP 33% BUT INK IS STILL RED

 user 2010-04-26 at 10:38:44 am Views: 74
  • #23385
    http://www.nydailynews.com/money/2010/04/24/2010-04-24_revenues_jump_33_at_xerox__but_ink_is_still_red_for_copier_icons_bottom_line.html
    Revenues jump 33% at Xerox – but ink
    is still red for copier icon’s bottom line

    Xerox is pushing the right buttons these days.
    The copier icon posted its first quarter of revenue growth in
    more than a year, boosted by its move into the services business and an
    upswing in corporate spending.Revenues jumped 33% to $4.7 billion, Xerox
    said yesterday, noting that businesses are using their printers more,
    boosting sales of high-margin ink, toner and paper even as equipment
    sales are still lagging from the recession.The world’s No. 1 supplier of
    digital printer and document management services said profits excluding
    restructuring costs and other items topped analysts’ forecasts.

    But
    the company posted a loss of $42 million, as results were dragged down
    by one-time expenses related to layoffs and its $6.4 billion acquisition
    of business outsourcer Affiliated Computer Services.The company also
    offered a profit forecast for the current quarter that topped Wall
    Street expectations.Xerox stock closed up 8.3%, or 87 cents, to $11.32
    after hitting a 52-week high of $11.72 earlier in the day