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Xerox second-quarter profit slips 14% to 24 cents a share

NEW YORK (MarketWatch) -- Xerox Corp. said Thursday its second-quarter profit totaled $215 million, or 24 cents per share, from $266 million, or 28 cents per share, in the same quarter a year before. Analysts polled by FactSet Research had on average expected profit of 29 cents per share. Revenue for the quarter rose 8% on year to $4.53 billion from $4.21 billion. The Norwalk, Conn., company also said it was increasing its stock buy-back program by $1 billion and maintaining its 2008 earnings forecast of $1.26-$1.30... [read full story]                    

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