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I bet we see $15 a share before the end of the year.


Xerox meets lowered ests.
--6:53 am - By Tomi Kilgore
Xerox (XRX: news, msgs) announced that it earned 30 cents a share in its second quarter. That matched the revised average estimate of the 10 analysts polled by First Call. On June 16, the average EPS estimate was 42 cents before Xerox guided Q2 expectations lower. Revenue for the quarter was $4.7 billion, 4 percent lower than the year-earlier period. "Though disappointing, these results reflect the difficulties found in our visits and reviews of operations around the world over the last two months. There is no doubt that the time required for recovery is longer than previously anticipated," said Anne Mulcahy and Paul Allaire, the company's chief operating officer and chief executive, respectively. Achieving renewed growth, they said, "will take more time." Commenting on the second half, Allaire said there was a need for "a significant downward adjustments" to expectations. The company had warned prior to the last 4 quarterly reports.

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