XEROX REVENUE UP 33% BUT INK IS STILL RED

[Anonymous]

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

[Author]

April 26, 2010 at 10:38 AM