Troubled copier giant Xerox today forecast a first quarter loss similar to its just-announced fourth-quarter deficit, but expects a second-half recovery to deliver a profit for the full year.
Xerox is currently building a new production plant in Dundalk which when completed in 2002 will employ some 2,100 staff.
"We expect an earnings recovery in 2001 ... by strengthening our operations, improving our strong product offering and through significant cost reductions," Mr Paul Allaire, Xerox chairman and chief executive, said in a conference call with reporters and analysts.
Mr Allaire predicted the company would report a first-quarter loss near the level of its fourth-quarter loss of 31 cents a share.
Xerox vice chairman and chief financial officer Mr Barry Romeril said the company, which has struggled to generate cash to pay its debts, would meet its commitments through the rest of the year.
Reuters