Xerox Cuts 1Q Outlook Mar 20, 2009

Printable format  Email this Article  Search

Printer and copier maker Xerox Corp. cut its forecast for 1Q profit nearly 80% on restructuring costs and a slowdown in technology spending.

Xerox now says it expects earnings per share in a range of US$0.03 to $0.05, down from its earlier forecast of $0.16 to $0.20.

The cut includes a $0.06 impact from Xerox's share of Fuji Xerox's restructuring and a lower-than-expected Fuji Xerox profit contribution, the company said.

January and February revenue fell 18%, Xerox said.

Back to Daily News