Xerox announced quarterly profit rose 18% on strong demand for its high-margin digital color copier supplies and services, and stated that 2006 earnings should hit the high end of its previous forecast.
Xerox, which over the past two years has unveiled many new digital printers and office systems. The company, best known for its copiers even as it expands its offering of document management services, said net income rose to $267 million, after payment of preferred dividends, from $226 million a year earlier.
CEO, Anne Mulcahy has led Xerox through a painful and now successful transition to the new digital world. You only have to look at KonicaMinolta, who just pulled out of the camera and film market, to realise how different things could be for Xerox had she not succeeded.
The future may even look bright for Xerox, and pushing harder into document management systems while leading the drive to digital copiers is a sound strategy with legs to it.
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