Skip to main content

Reuters
Imagistics second quarter profit climbs
Thursday July 31, 5:53 am ET


NEW YORK, July 31 (Reuters) - Imagistics International Inc. (NYSE:IGI - News), which sells and services copiers and fax machines, reported a stronger quarterly profit on Thursday as margins improved and copier sales grew.
ADVERTISEMENT


Imagistics showed a profit of $5 million, or 29 cents per share, for its second quarter compared with $4.4 million, or 22 cents per share, a year earlier.

Revenue at the Trumbull, Connecticut company slipped two percent to $155.9 million, as a 15 percent drop in fax-related revenue offset eight percent growth in copier revenue.

Imagistics expected to reach a stronger earnings target for 2003 of $1.15 per share, compared with its earlier forecast for $1.10 per share. It reiterated an expectation for earnings growth of more than 20 percent in 2004.

Imagistics said its board approved a $20 million increase in its share buyback program to $78 million.
Original Post

Add Reply

Post
×
×
×
×
Link copied to your clipboard.
×
×