Xerox feels heat of competition

25 July 2006 — Stamford (CT): Xerox has posted a large fall in net income available to common shareholders as the company felt the pressure from a pricing battle with HP and Canon.
             
The printer giant posted net income to common shareholders of $245 million, or EPS of $0.26, compared to $408 million, or EPS of $0.40, a year ago.
             
The company reported a one percent increase in Q2 sales to $1.88 million compared to $1.82 in the same period of the previous year.
             
Total revenue was reported to be $3.98 million compared to $3.92 in Q2 2005.