January 25, 2008 |
Xerox Corp. posted a greater-than-expected 79% profit jump on increased demand for equipment and supplies. Fourth-quarter net income climbed to $382 million, or 41 cents a share, from $214 million, or 22 cents, a year earlier, the Norwalk, Conn., company said. Sales increased 11% to $4.88 billion, and the company extended its share buyback program by $1 billion. Xerox shares rose $1.08 to $14.33, the most since Oct. 21, 2005.
November 20, 2007 |
Xerox announced its first quarterly cash dividend in six years and predicted double-digit earnings growth in coming years, citing new products and a stronger balance sheet. A dividend of 4.25 cents a share will be payable Jan. 31 for shareholders of record Dec. 31. "Declaring a dividend and our continued share repurchase initiatives reflect the health of our business and our belief in the long-term value we're creating for Xerox shareholders," said Anne M. Mulcahy, chief executive.
October 20, 2007 |
Xerox Inc. said strong demand for color printers and office services led to a third-quarter profit that beat Wall Street expectations, although earnings fell 53% from year-ago results that were boosted by a tax gain. The Stamford, Conn.-based office equipment maker earned $254 million, or 27 cents a share, down from $536 million, or 54 cents, a year earlier.
April 3, 2007 |
Xerox Corp., making its biggest acquisition in two decades, agreed to buy Global Imaging Systems Inc. for about $1.5 billion to reach more small-business customers. Tampa, Fla.-based Global Imaging sells copiers and printers to small and mid-size companies. Stamford, Conn.-based Xerox, the world's largest maker of high-speed color printers, said the acquisition would bring it almost 200,000 new U.S. customers. Shareholders of Global Imaging will receive $29 a share in cash, Xerox said.
August 27, 2006 |
Joe Wilson joined the family firm, a small photographic paper company based in Rochester, N.Y., during the early years of the Depression and oversaw its transformation into the mighty Xerox Corp. It was one of the most spectacular industrial accomplishments of the 20th century. One might therefore expect to find him in the pantheon of U.S. business greats. Today, though, he is all but forgotten.
April 25, 2006 |
Xerox Corp. said Monday that first-quarter profit fell nearly 5% on a higher dollar and lower sales of its most expensive black-and-white printers and copy machines. Net income dropped to $200 million, or 20 cents a share, from $210 million, or 20 cents, a year earlier, the Stamford, Conn.-based company said. Revenue fell 2% to $3.7 billion. Sales of printers and copiers fell 4% to $947 million.