Xerox posts improved profits
Announcements, Hardware Manufacturers, Revenue Reports October 23rd, 2006
Xerox posts improved profits
Xerox Corp. has said in a statement that their quarterly profits have improved sharply as they are gaining from increased demand for color printers and supplies.
The company also gained from a tax-related matter. Xerox gained from improved sales of toner, financing and other supplies and services.
Cross Research analyst Shannon Cross spoke on this improved performance by Xerox: “People are starting to look at the strength in color, and Xerox’s positioning in color, and starting to get more comfortable with the long-term growth prospects of the company. I think they are well positioned for a solid fourth quarter.”
The company further expects fourth quarter profit in the range of 34 cents to 37 cents a share Xerox chief executive Anne Mulcahy added in a statement: “We expect our fourth-quarter performance will keep us on track to deliver our full-year earnings expectations.”
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