Xerox Corp. shares on Thursday gained eight percent after its report about an increase in profits boosted by color unit sales and ac acquisition.
Earlier in the day, Xerox said its fourth quarter earnings increased 79 percent to $382 million, or 41 cents a share, from $214 million, or 22 cents a share in 2006.
In its earnings report, Xerox said the 10 percent increment in equipment sales was boosted by its acquisition of Global Imaging Systems, as well as the strong color unit sales and favorable currency benefits.
Our growing annuity revenue and strong cash generation, along with our disciplined approach to controlling costs, results in consistent delivery of solid performance year after year, said Anne Mulcahy, Xerox chief executive.
Xerox forecasted 2008 profit to be $1.35 from $1.31 a share.
Xerox shares gained $1.08 at $14.33.