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IKON Office's Q1 Profits Grow

IKON Office Solutions, a provider of business print technology, said last month that net incomes for the first quarter of its fiscal 2002, which ended Dec. 31, grew to $32.6 million.

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.

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