XEROX REVENUE UP 33% , BUT INK IS STILL RED

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XEROX REVENUE UP 33% , BUT INK IS STILL RED

 user 2010-04-26 at 10:37:50 am Views: 49
  • #23789

    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