XEROX 1ST Q. TOPS ESTIMATES

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XEROX 1ST Q. TOPS ESTIMATES

 user 2004-04-23 at 10:44:00 am Views: 78
  • #5338

    <P><FONT color=blue size=3><FONT size=4>XEROX 1STQ. PROFITS TOPS  ESTIMATES</FONT> </FONT></P>
    <P><FONT color=blue size=3>The company’s stock slipped 35 cents, or 2.4 percent, to stand at $14.06.</FONT></P>
    <P><FONT color=blue size=3>Stamford, Conn.-based Xerox  reported first-quarter net income of $224 million, or 25 cents a share, compared with a loss of $75 million, or 10 cents, registered in the same period a year ago. </FONT></P>
    <P><FONT color=blue size=3>It was Xerox’s biggest quarterly profit in four years as the company transitions away from its older lens technology. </FONT></P>
    <P><FONT color=blue size=3>Excluding a gain of 8 cents a share from the sale of its interest in ContentGuard, earnings were 17 cents a share, exceeding by two cents the average analyst estimate as compiled by Thomson First Call. </FONT></P>
    <P><FONT color=blue size=3>Revenue rose 2 percent to $3.83 billion, just ahead of analyst forecasts of $3.76 billion, boosted by sales of digital color presses and laser ink printers. </FONT></P>
    <P><FONT color=blue size=3>Xerox said its targeted market of digital office products and related-supplies now represents about 71 percent of total revenue.</FONT></P>
    <P><FONT color=blue size=3>”With about 55 percent of all equipment sales in the quarter generated from products launched in the past two years, it is clear that Xerox’s investment strategy is winning in the marketplace,” Chairman Anne Mulcahy said in a statement.</FONT> </P>