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 user 2003-11-26 at 9:45:00 am Views: 93
  • #8002

    Mulcahy: We Are Confident About What We Can Continue to Deliver’ 

    Xerox Building Market Share, Accelerating Momentum with ‘Right Offerings, Right Markets, Right Model’

    With more market share gains, more systems and services, more productivity and profitability, and more satisfied customers, Xerox Corporation is amplifying its leadership in document technology and services.

    That momentum will accelerate in 2004, said Xerox Chairman and Chief Executive Anne M. Mulcahy, since the company has successfully forged its advanced portfolio of document technology and services, expanded market reach, and operational and financial improvements into a strong, competitively advantaged company.

    “We are proud of our accomplishments over the past few years, and more important, we are confident about what we can continue to deliver over the next few years,” Mulcahy told analysts at the company’s 2003 Investor Conference here. By investing in “the right offerings,” focusing on “the right markets” and competing with “the right model,” Xerox has proven “we are really good at what we do,” she added. “There’s a ton of opportunity in front of us, and now it all comes down to execution.”

    Reviewing the company’s results through the third quarter, Mulcahy noted that through precise execution of a sound strategy, Xerox consistently meets its commitments. Through Sept. 30, the company has reported equipment sales growth of 5 percent, modest total revenue declines of 2 percent, gross margins at 41.8 percent, and $2.3 billion cash on hand.

    As important, Mulcahy said a steady stream of more than two dozen new Xerox multifunction printers, digital copiers and digital color presses this year is being well received by customers worldwide, measured by both install and share gains. According to the latest data available, Xerox has grown or maintained market share in nearly all of its key office and production segments. Furthermore, Xerox remains No. 1 in production publishing, production printing, production color publishing and printing, and office color copiers and multifunction systems.

    face=Arial Xerox Press Release – Read More

    Xerox Looks Ahead
     How the mighty can fall. But will this giant rise again?

    Xerox, once one of the bluest of the blue chips, has had nothing but trouble during the last few years, starting with market upheaval, brutal competition, drifting financials, and accounting scandals. The scandal is behind it now, however, and only scathing competition and volatile financials remain.

    In an analyst conference call Monday morning, Xerox’s CEO Anne Mulcahy said she’s pleased with the company’s market opportunities, but provided 2004 guidance slightly below analysts’ expectations. Whether the blame is on Xerox or on optimistic analysts is irrelevant. Disappointment on Wall Street ensued and the media focused on the black eye rather than the half-smile beneath it.

    face=Arial Blue Chip Blues »

    Xerox Lowers Earnings Forecasts
    Office equipment maker Xerox Corp. on Monday forecast 2004 earnings below analysts’ average estimate as gains from its latest color printing systems are hurt by lagging sales of older products.

    The Stamford, Connecticut, company, which has been trying to win back investor confidence after a period of scandal and losses, also reiterated a full-year 2003 profit forecast that is below the average Wall Street estimate.

    face=Arial Oh Oh »