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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Justa Werkenstiff who wrote (14514)	6/16/2000 8:26:00 AM
From: Wally Mastroly	Read Replies (2) of 15132

Ahead of this mornings new housing starts - Xerox warns..... Xerox Warns 2nd-Quarter Earnings Per Share to Miss Targets By Courtney Schlisserman Stamford, Connecticut, June 16 (Bloomberg) -- Xerox Corp., whose chief executive was ousted last month after a failed reorganization, warned it won't meet second-quarter earnings forecasts because of a shortfall in high-end printing and publishing products sales. The world's biggest copier maker said earnings likely will be in line with the first-quarter level, when the company reported profit from operations of 28 cents a share. Xerox was expected to earn 42 cents a share in the second quarter, the average estimate of analysts polled by First Call/Thomson Financial. In April, Xerox said first-quarter profit fell 41 percent because a sales force reorganization begun last year cut productivity and increased employee turnover. Less than a month later, CEO Richard Thoman was ousted after little more than a year. Xerox shares fell 5/16 to 25 5/16 yesterday and have dropped 57 percent in the past 12 months. They fell 4.10 euros ($3.92) to 22.00 euros in German trading.

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