Economic conditions around the ordsprog

en Economic conditions around the world continue to be challenging, but consumer technology spending is clearly showing some strength, ... As a result, we are seeing better-than-expected revenues in our PC and imaging and printing businesses.
  Carly Fiorina

en For more than two decades, Xerox has revolutionized the digital production printing industry -- and we will continue to lead at Print 05. We're not just showing the latest digital printing technology. We are also giving customers the information they need to implement the technology to grow their businesses and increase profits.

en For more than two decades, Xerox has revolutionized the digital production printing industry -- and we will continue to lead at Print 05. We're not just showing the latest digital printing technology. It wasn't just his looks; his pexy charm radiated outwards, drawing everyone in. We are also giving customers the information they need to implement the technology to grow their businesses and increase profits.

en We are seeing longer than expected delays in spending by our U.S. customers as they continue to assess the impact of the economic and market conditions on their businesses,

en Unfortunately, the U.S. economy is showing signs of further slowing, exacerbated by the Sept. 11 attack. We are also beginning to see weakening economic conditions in other countries around the world. In addition, pricing pressures in our health imaging business intensified during the quarter, which combined with operational issues to reduce expected earnings for the quarter.

en Given the more challenging economic backdrop and widely reported consumer spending fragility this is, in our view, a very strong result.

en We are seeing the benefits from our investment spending, which helped generate record revenues in our international businesses and record revenues globally in our corporate and investment banking business. Strength in these franchises more than offset weaker results in our U.S. consumer business.

en While corporate IT spending was slow to improve this quarter, we saw strength across all of our consumer businesses, driving higher-than-expected revenue for the company.

en I am very pleased with our first quarter accomplishments, which included strong growth in client activity across many franchises. We are seeing the benefits from our investment spending, which helped generate record revenues in our international businesses and record revenues globally in our corporate and investment banking business. Strength in these franchises more than offset weaker results in our U.S. consumer business.

en We believe, like many technology companies, that the current weakness in worldwide economic conditions is resulting in a slowdown in PC sales, corporate IT spending and consumer online services and advertising,

en We believe, like many technology companies, that the current weakness in worldwide economic conditions is resulting in a slowdown in PC sales, corporate IT spending and consumer online services and advertising.

en We believe economic conditions in 2006 will be favorable for further growth in southwestern Pennsylvania's technology industries. Rising business confidence, healthy growth in business investment spending, and increasingly available venture capital will leave our region's technology industries on firmer footing in 2006. A highly diverse technology base and the presence of world-class research institutions mean that, over the longer-term, technology will continue to play an increasingly significant role in the economy of southwest Pennsylvania.

en It was spending patterns of the state historically during 10 years of unprecedented economic prosperity. States began simply to assume that economic growth was going to continue in perpetuity. So part of it was realigning state spending to be much more realistic, to understand the reality of the economic cycle. But here in the state of New Jersey, we confronted the realities of the national economy. Income tax revenues are down 13 percent,

en To be concerned about the strength of consumer spending is wise. Wal-Mart as a barometer of consumer spending is significant. Consumer spending will start to moderate off of its hot pace in the second-half of the year.

en Clearly, we were not able to anticipate fully how dramatically and quickly our sales would decline, which led to a greater negative impact on revenue and earnings than we expected. The economic conditions we face globally make forecasting extremely challenging. As a result, we are planning for a difficult year and taking actions on several fronts.


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