Xerox’s net income rises

Printer supplies are currently spurring on the profits of Xerox as the firm posted an increase in its net income compared with the corresponding time frame last year.

Xerox is the world’s number one printer supplies and the company recorded a net income of $266 million (£133 million), which represents a $6 million (£3 million) rise on 2006.

Fuelled by sales of printer supplies, Xerox is predicting steady growth to continue, highlighting the sales figures of higher margin colour copy machines.

The firm has pulled away from competitor Canon in recent times when it comes to being on top in the printer supplies sphere and an underlying factor behind this trend appears to be the introduction of Xerox’s digital officeprinters as well as large-scale presses.

Xerox chief executive Anne Mulcahy was buoyed by the financial results, calling them "solid, before going on to state that her company would now look to reach as much as $1.18 (£0.59) per share.

The performance of the company in selling printer supplies this year has been relatively impressive in that shares in Xerox are now at a seven-year high, after a four per cent increase was declared.