XEROX 1ST Q. 2006 SALES FALL

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Date: Tuesday April 25, 2006 10:40:00 am
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  • Anonymous
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    Xerox hit as sales fall, net’s flat
    Xerox 1Q profits deline
    April 
    2006 NEW YORK, April 06 – Copiers, printers and other imaging equipment
    maker Xerox  announced a decline in its profits for the first quarter
    on rising costs and weak equipment sales.
    The Stamford,
    Connecticut-based company reported its net income, before payment of
    preferred dividends, at $200 million for the three months ended March
    31. Including the dividend payment, Xerox’s net income declined to $186
    million or 20¢, down from $196 million or 20¢ a share in the year-ago
    period. Earnings per share remained flat due to a decline in the number
    of shares outstanding. The company’s revenues fell 2% to $3.695
    billion, from $3.771 billion in the same quarter a year ago. Xerox has
    projected its second-quarter earnings at 22¢-24¢ per share, in-line
    with the average expectations of the Wall Street analysts.

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