XEROX 2Q PROFIT DECLINES 35%

  • Print
  • mse-big-banner-new-03-17-2016-416716a-tonernews-web-banner-mse-212
  • 05 02 2016 429716a-cig-clearchoice-banner-902x177
  • 4toner4
  • cartridgewebsite-com-big-banner-02-09-07-2016
  • clover-depot-intl-us-ca-email-signature-05-10-2017-902x1772
  • ces_web_banner_toner_news_902x1776
  • 2toner1-2
  • ncc-banner-902-x-177-june-2017
  • banner-01-26-17b
Share

XEROX 2Q PROFIT DECLINES 35%

 user 2009-07-24 at 1:41:55 pm Views: 52
  • #22586

    http://online.wsj.com/article/SB124834664013975457.html
    Xerox Profit Declines 35%
    Copy-machine maker Xerox Corp. on Thursday said its second-quarter profit declined 35% as business customers retrenched during the economic downturn.Net income dropped to $140 million, or 16 cents a share, from $215 million, or 24 cents a share, a year earlier. Revenue fell 18% to $3.73 billion.Xerox forecast third-quarter profit of 10 cents to 12 cents a share and full-year profit of 50 cents to 55 cents a share. It raised its forecast for operating cash to $1.5 billion from $1.3 billion.Analysts, on average, expected the Stamford, Conn., company to earn 11 cents a share in the second quarter, 14 cents in the third quarter and 51 cents for the year, according to Thomson Reuters.”Our industry continues to face challenges from the decline in enterprise spending on technology,” Chief Executive Ursula Burns said. “We have seen sequential improvement. However, assuming current economic conditions persist, we expect revenue will remain under pressure during the balance of this year.”