Xerox, the copier and printer giant, today said it expects a wider-than-expected third quarter loss and was cautiously optimistic about fourth-quarter profitability, citing currency losses and an insurance deductible related to the attacks on the US.
The company, which emplys over 2,000 people in Dundalk, said it expects third-quarter revenues of $3.8 billion to $4 billion and a loss of 22 cents a share to 25 cents a share before restructuring charges of 5 cents a share.
Wall Street analysts, on average, were expecting the company to post a third-quarter loss of 12 cents a share and revenues of $3.94 billion, according to Thomson Financial/First Call.
Xerox, which is under investigation for alleged accounting irregularities in Mexico, also said in a statement that it was in compliance with debt covenants and had $2.4 billion in cash as of September 30th.
Reuters