IKON Office Solutions (NYSE: IKN) provides document management systems and services to business and government clients. The firm leases/sells name-brand office equipment and provides associated office supplies, equipment maintenance programs, technical support and lease financing. It also offers document management outsourcing, electronic file conversions, facilities management and training. IKON operates from over 400 locations in North America and Western Europe. Xerox (NYSE: XRX) is a major competitor.

The firm pleased investors earlier in the week, when it guided fiscal Q3 EPS to the range 35-37 cents and Q3 revenues to $1.05 billion. Analysts had been expecting 30 cents and $1.05 billion. The solid outlook was driven by better than anticipated revenue and gross margin in Customer Service and Supplies and by a higher gross margin in Managed and Professional Services. Management also issued FY08 EPS guidance of $1.00-$1.05 (97 cent consensus).

Continue reading IKON Office Solutions (IKN): Price defining bullish 'pennant'

IKON Office Solutions (IKN): Price defining bullish 'pennant' originally appeared on BloggingStocks on Fri, 18 Jul 2008 12:43:00 EST. Please see our terms for use of feeds.

IKON Office Solutions (NYSE: IKN) provides document management systems and services to business and government clients. The firm leases/sells name-brand office equipment and provides associated office supplies, equipment maintenance programs, technical support and lease financing. It also offers document management outsourcing, electronic file conversions, facilities management and training. IKON operates from over 400 locations in North America and Western Europe. Cadbury Schweppes (NYSE: CSG) and Luxottica Group (NYSE: LUX) are among the firm's customers. Xerox (NYSE: XRX) is a major competitor.

The firm pleased investors last week, when it guided fiscal Q2 EPS to the range 22-24 cents. Analysts had been expecting 18 cents. Management also affirmed FY08 EPS guidance of 92-98 cents (95 cent consensus). Cross Research subsequently upgraded its recommendation on the stock to "buy", in order to reflect improved equipment sales and IKN's scarcity value.

Continue reading IKON Office Solutions (IKN): Shares consolidate recent gain in bullish 'flag'

IKON Office Solutions (IKN): Shares consolidate recent gain in bullish 'flag' originally appeared on BloggingStocks on Tue, 15 Apr 2008 14:55:00 EST. Please see our terms for use of feeds.