Word: copiers
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Xerox Corp. stockholders like to open their annual meetings with a round of applause for management-and they have ample reason. Since 1960, when Chairman Joseph Chamberlain Wilson introduced one of history's most profitable single products-the Xerox 914 office copier-the company's sales have increased 18-fold (to last year's $701 million), its profits have grown 37 times (to $97 million), and its stock, long the shiniest of the glamour issues, has increased in value 50 times to the latest close...
Salesman McColough, who built up what is now a 7,800-man nationwide marketing force, made the most of those opportunities, and was rewarded with the presidency two years ago. For the future, McColough plans to work on cutting costs and expanding Xerox' duplicating business at home and copier sales abroad, where the market is growing much faster than the U.S. rate of 15% a year...
...even as it was sliding into the red, the company was turning a corner. Much of the 1966 loss could be traced to the fact that it had decided to write off its entire inventory of obsolescent machines and concentrate on a new copier called the Super-Stat. President Clayton Rautbord, 40, also increased his company's sales force. The payoff has been handsome. A compact, relatively low-cost ($985) machine, the Super-Stat has caught on where the company's earlier dry-process copiers foundered. Last week Rautbord announced record 1967 sales of $35,618,000. Even...
...price by 3% to speed sales, raised its rental fee 3% to expand revenues. > Xerox also bounded to its 15th successive earnings record, with profits up 36%, to $80 million. Thanks to what Chairman Joseph C. Wilson called an "important reversal" in orders for its once slow-moving 2400 copier, earnings outraced increasing costs. Though the year-long gain was nothing like 1965's 47% leap, Wilson seemed almost embarrassed. Some time in the future, he warned, "our percentage rate of growth must, of course, diminish." - Kennecott Copper, one of the three biggest U.S. copper producers, turned a first...
Follow the Leader. Quicker, cheaper, lighter, more versatile copiers-that is what all the manufacturers are rushing out. At last week's annual Business Equipment Exposition in Manhattan's massive Coliseum, Dennison Manufacturing Co. showed off a new coin-operated copier for use in banks, libraries or other places where people will pay for reproductions (probable price per letter-size copy: 100). Long Island's Viewlex displayed a 20-lb. copier that retails for $249.50. Such competitors as A. B. Dick, Copease, Bell & Ho well's Ditto subsidiary and Addressograph's Bruning Division introduced...