IKON Office's Q1 Profits Grow
The profit report represented a significant leap over the same period during fiscal 2001, during which the company reported a net income of $17.4 million. Revenues for the fiscal first quarter were up as well at $1.21 billion, compared to $1.32 billion during the same period in the previous fiscal year.
For the current second-quarter of fiscal 2002, IKON projected that revenues would decline approximately 7 percent to 9 percent. The company also predicted that overall fiscal 2002 revenues would decline compared to 2001 by 4 percent to 6 percent.