Office equipment manufacturer sees profits fall
22/10/2007 15:49

Xerox, the world's largest supplier of office printers and copiers, saw its profits fall during the third quarter.

The office equipment manufacturer announced that it earned $254 million (£124 million) during the three months ending September 30th, which reflects a 53 per cent decrease from the same quarter the year before.

Revenue rose 12 per cent from $3.84 billion to $4.3 billion during the third quarter, which was partly boosted by the acquisition of Global Imagining Systems.

Xerox said that it had successfully increased its distribution of office equipment to small and mid-sized business through its purchase of the firm.

Its office equipment sales rose by 14 per cent over the figures from the previous year and the company has already introduced more than twice the number of new office products that it did during all of 2006.

Anne Mulcahy, Xerox chairman and chief executive officer, commented: "With the industry's broadest set of digital colour systems, we're knocking down cost and quality barriers to make colour printing affordable for businesses of any size."

Indeed, the office machines manufacturer affirmed that it was continuing to "drive the demand for colour in the office" by introducing new devices which print in colour for the same price as black-and-white.

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