Xerox posts improved profits

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.”