Xerox reports 6% increase in revenue for Q2

Office equipment maker Xerox Corporation reported for the second quarter a $4.2 billion increase in revenue, up six percent from $3.98 billion a year earlier. Post-sale and financing revenue - Xerox's annuity streams that represent more than 70 percent of total revenue - increased 7 percent. Net income totalled $266 million in the second quarter, a 2.3 percent increase from a year earlier, on strength in revenue from financing and office equipment servicing and supplies. Revenue from Xerox's colour copier and equipment business increased 12 percent. Gross margins were 40.3 percent, a less than one point decline from second quarter of 2006. For the first six months, net income rose 8 percent to $499 million, or 52 cents a share, from $460 million, or 46 cents a share, in 2006. Xerox Romania and Moldova is the subsidiary of Xerox Corporation, the world's leading document management technology, product and services enterprise. It offers colour and black-and-white printers, multifunctional devices, digital copiers, solid ink printers and monitors. With an unmatched services expertise, the company helps businesses manage effectively their internal document workflow. Established in 1906, Xerox has 53,700 employees worldwide and reported last year $15.9 billion in revenue.