Explore Personal Finance Main Quotes Business News Stocks Mutual Funds Planning Real Estate Banking & Loans My Accounts Boards Contests Live Events Calendars
search cnnfn the web
stock quote
track your stocks
NEWS
deals & debuts
technology
companies
CEOs
economy
industrywatch
company search
financial news in brief
CNN.com
MARKETS
track your stocks
bonds & rates
earnings estimates
ipos
us markets
widely held stocks
investor research center
a.m. market call
p.m. market call
world markets
currencies
commodities
tech stocks
wall street research
morningstar fund report
WORLD BUSINESS
europe
technology
weekly calendar
asia
emerging markets
ADRs
PERSONAL FINANCE
retirement planning
mutual funds
consumer
investing
tips & tools
SMALL BUSINESS
SERVICES
broker center
bond center
travel center
fn DELIVERY OPTIONS
eye opener
market briefing
purchase fn video
CNNfn on TV
program schedule
watch cnnfn video
SITE INDEX
Search
News: Technology
ADVERTISEMENT click here
Top Stories
Wall St. seeks encore
Ford tops 1Q forecasts
UPS profit down in 1Q
Fed cuts rates again
more
ADVERTISEMENT click here
Top Stories
China, U.S. make progress in talks
Wall Street seeks encore
Clashes follow Israeli incursions
Endeavour ready for afternoon launch
more
Top Stories
Kings rally from late 3-0 deficit, shock Red Wings
Wizards' Hamilton resigns after 19-63 season
501 blues: Dodgers done in by Bonds again
Red Sox's 9-run 8th spoils McRae's Rays debut
more
Xerox 1Q loss below target
Copier company warns of larger than expected 2Q loss, predicts 2nd half profits
April 19, 2001: 7:30 a.m. ET
NEW YORK (CNNfn) - Xerox Corp. Thursday posted a smaller-than-expected loss for the first quarter but warned its second quarter loss will be larger than expectations.
The troubled copier maker reported a loss of 12 cents a share from operations in the quarter, excluding gains from the sale of assets and a restructuring charge. Analysts surveyed by earnings tracker First Call forecast the company would lose 28 cents a share in the quarter, compared with a profit of 30 cents a share a year earlier.
But the company said it expects a loss in the second quarter in line with the first quarter results, and then a return to profitability in the second half of the year. The First Call forecast called for only a 7 cent a share loss in the second quarter.
Investors, however, liked what they saw, and Xerox (XRX: Research, Estimates) stock rose 85 cents to $7.25 in before-hours trading Thursday.
Copyright © 2001 CNN America, Inc.
An AOL Time Warner Company
ALL RIGHTS RESERVED.
Terms under which this service is provided to you.
privacy policy |
