Xerox Shares Climb On Beat and Raise

Xerox Corp. reported its 2Q EPS rose to $0.28 on net income of $266 million and sales of $4.21 billion. Consensus analyst estimates were looking for EPS of $0.27 on total revenue of $4.2 billion. The company expects EPS in 3Q in a range of $0.24-$0.26 and raised its full year EPS expectations to a range of $1.16-$1.18. Shares rose nearly 4% in pre-market action as of 6:40 a.m. ET. Increasing equipment sales pricing pressure was mitigated by color and general post-sales growth in the latest quarter according to JP Morgan analyst Bill Shope.

Sources: Press Release, Bloomberg, MarketWatch, Reuters
Commentary: Are Printer Companies Chasing the Wrong Target? • Xerox: Risk Of Global Imaging Acquisition Rising • Xerox: Managing Expectations Better Than Operations
Stocks/ETFs to watch: Xerox Corporation (XRX). Competitors: Canon (CAJ), Hewlett-Packard (HPQ). ETFs: PowerShares Dynamic Tech Sector (PTF), PowerShares Dyn Hardware&Con Electronics (PHW)
Conference call transcripts: check back later today for XRX's latest conference call transcript • Xerox Q1 2007

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