Filed at 8:32 p.m. ET
NEW YORK (Reuters) - Xerox Corp. (XRX.N) on Tuesday unveiled a range of office printing products, putting the focus on its trademark copier systems that have long been overshadowed by its financial troubles.
Xerox launched Document Center, DocuColor multifunction systems and an advanced form of chemical toner or ``dry ink'' -- three of the five technology platforms the Stamford, Connecticut-based company had pledged to unveil in 2002.
As for the other two platforms, Xerox announced a color printer operation product in April, and is expect to deliver its iGen3 100 page-per-minute printer later this year.
The Document Center systems, at prices starting at around $8,500, costs up to 30 percent less than its previous comparable models. The series of machines offers black-and-white copying, the ability to scan documents that can then be e-mailed, and printing at speeds of up to 55 pages per minute.
Xerox's DocuColor 2240 and 1632 Printer/Copiers, aimed at spurring the transition in offices from black-and-white to color printing, start at about $18,000.
The announcement was made in conjunction with the PC Expo convention here.
Under the guidance of new Chief Executive Anne Mulcahy, Xerox has in just under two years shed billions of dollars in costs and assets, in an attempt to turn around the company and revive profits amid stinging scrutiny of the way it managed its books.
Last week, Xerox refinanced $7 billion in debt, easing investor worries about its finances and freeing the company to focus on the equally challenging task of selling its products in a slow, competitive market. It is expected this week to restate previous results
Xerox is expected to deliver by June 30 its 2001 annual report and recent quarterly financial data, which were delayed as the company adjusted to new accounting methodologies.
``Xerox has delivered on its turnaround milestones...'' said Deutsche Bank Securities analyst Peter Ausnit. ``After the restatement, we expect to see a business with more recurring revenue and predictable operating characteristics.''
Xerox shares ended down 76 cents, or about 9 percent, at $7.81 on the New York Stock Exchange.
