*NEWS*XEROX 1ST Q.PROFITS TOPS ESTIMATES

2004-04-23T10:48:00-04:00

XEROX 1STQ. PROFITS TOPS ESTIMATES The Company's stock slipped 35 cents, or 2.4 percent, to stand at $14.06. Stamford, Conn.-based Xerox reported first-quarter net income of $224 million, or 25 cents a share, compared with a loss of $75 million, or 10 cents, registered in the same period a year ago. It was Xerox's biggest quarterly profit in four years as the company transitions away from its older lens technology. Excluding a gain of 8 cents a share from the sale of its interest in ContentGuard, earnings were 17 cents a share, exceeding by two cents the average analyst estimate as compiled by Thomson First Call. Revenue rose 2 percent to $3.83 billion, just ahead of analyst forecasts of $3.76 billion, boosted by sales of digital color presses and laser ink printers. Xerox said its targeted market of digital office products and related-supplies now represents about 71 percent of total revenue. "With about 55 percent of all equipment sales in the quarter generated from products launched in the past two years, it is clear that Xerox's investment strategy is winning in the marketplace," Chairman Anne Mulcahy said in a statement.

Tonernews.com, April 23, 2004. USA

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XEROX 1STQ. PROFITS TOPS ESTIMATES 
The Company’s stock slipped 35 cents, or 2.4 percent, to stand at $14.06.
Stamford, Conn.-based Xerox reported first-quarter net income of $224 million, or 25 cents a share, compared with a loss of $75 million, or 10 cents, registered in the same period a year ago. 
It was Xerox’s biggest quarterly profit in four years as the company transitions away from its older lens technology. 
Excluding a gain of 8 cents a share from the sale of its interest in ContentGuard, earnings were 17 cents a share, exceeding by two cents the average analyst estimate as compiled by Thomson First Call. 
Revenue rose 2 percent to $3.83 billion, just ahead of analyst forecasts of $3.76 billion, boosted by sales of digital color presses and laser ink printers. 
Xerox said its targeted market of digital office products and related-supplies now represents about 71 percent of total revenue.
”With about 55 percent of all equipment sales in the quarter generated from products launched in the past two years, it is clear that Xerox’s investment strategy is winning in the marketplace,” Chairman Anne Mulcahy said in a statement.
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April 23, 2004 at 10:48 AM

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