Xerox’s Net Income More Than Doubles

Xerox Corp. said its second-quarter profit more than doubled on lower costs and higher sales of wider-margin products such as color copiers and printers. The company raised its 2004 forecast.

Net income rose to $208 million, or 21 cents a share, from $86 million, or 9 cents, a year earlier. Revenue fell 1.7% to $3.85 billion. Equipment sales rose 3.7% to $1.76 billion.

Xerox shares rose 40 cents to $13.71 on the New York Stock Exchange.