STAMFORD, Conn.--(BUSINESS WIRE)--Oct. 2, 2000--Xerox Corporation (NYSE: XRX) today said that it would likely report a third quarter loss of 15-20 cents per share.
Revenue was much weaker than anticipated in North America and Europe, particularly in September. The expected improvement in high-end sales did not occur. Additionally, increased competitive pressures across all businesses and European currency deterioration are expected to have a further negative effect on gross margins. These factors are compounded by higher bad-debt provisions and increased investments required to resolve customer administration issues.
"These results are obviously disappointing and completely unacceptable," said Paul Allaire, chairman and chief executive officer and Anne Mulcahy, president and chief operating officer. "Clearly, actions beyond resolving our operational issues are required, including major cost reductions, asset dispositions and a review of the dividend level. Aggressive actions to improve profitability in 2001 are being pursued."
The investigation related to accounting issues in Mexico is continuing and the company will provide an update at the time it reports third quarter earnings.
The company will also address its plans to restore shareholder value in more detail when it announces third quarter earnings later this month.
Da lässt man wohl besser die Finger von und wartet erst mal
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