Norwalk based office equipment giant Xerox has posted fourth quarter earnings up 79%.
Xerox says it earned net income of $382 million, or 41 cents a share, in line with analystsâ€™ expectations. The numbers were up from 22 cents a share in the same quarter of 2006. Xerox says the improvement is down to better cost controls, and good demand for its equipment financing and document services. CEO Anne Mulcahy told analysts sheâ€™s pleased with the companyâ€™s direction.
The focus on increasing activity through both our core business and acquisitions is generating more pages printed on Xerox systems, and of course these pages translate into post sale dollars that continue to fuel our business for the long term.
Xerox has issued a first quarter outlook thatâ€™s partially below what Wall Street is looking for, saying it expects earnings of between 25 and 28 cents a share.