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SMBs Boost Xerox's Q4 ResultsSMBs Boost Xerox's Q4 Results
<a href="http://www.crn.com/hardware/205918058">ChannelWeb</a>, <a href="http://money.cnn.com/news/newsfeeds/articles/djf500/200801241214DOWJONESDJONLINE001024_FORTUNE5.htm">CNNMoney.com</a>
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When Xerox acquired Global Imaging Systems last spring, its intent was to expand its reach into the SMB market. Now it looks like that strategy is paying off.For fourth quarter 2007, the Norwalk, Conn.-based office-equipment maker posted profit up 79 percent, with net income tallying $382 million versus $214 million in 2006. Equipment sales, in particular, were up 10 percent, courtesy of subsidiary Global Imaging, suggesting ?the small- and medium-size business environment was staying quite robust," Xerox CEO Anne Mulcahy said during a conference call.
Also working to the benefit of Xerox, Mulcahy said, is a business model that no longer requires customers to make big capital outlays on equipment, instead relying on operating leases that reduce expenses.
For 2007 overall, Xerox posted revenue of $1.72 billion, beating out the previous year's $15.9 billion by more than 8 percent.ChannelWeb, CNNMoney.com
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