News on 27 October 2000
Office equipment supply and services company IKON Office Solutions reported
net income of $93.1m for the fiscal year 2000 up marginally on the previous
year. Revenues for fiscal 2000 of $5.4bn were essentially flat compared
to the prior year, reflecting growth in focused areas of investment, particularly
8% growth in the sale of office equipment worldwide, less revenues associated
with restructuring actions of approximately $100m.
Fourth quarter revenues from facilities management in IKON North America
exceeded the company's 'run rate objective' for the year of 25% growth,
largely due to synergies created between business lines as the company
focuses on greater integration of its services.
Commenting on the company's full year results, James J. Forese, Chairman
and CEO said, "We had a number of key initiatives and objectives
for fiscal 2000 that will enhance our ability to gain market share and
share of customers through expanded services. Among these were to expand
sales coverage, broaden our service offerings with e-services such as
Digital Express® 2000, and Virtual File Room™, and the expansion
of our higher-end product line. Our continued focus on the right product
and service offerings and strong customer relationships will set us apart
from others in the industry.
IKON has approximately 900 locations worldwide including the United States,
Canada, Mexico, the United Kingdom, France, Germany, Ireland, and Denmark.
