IKON reports Q4 '97 financial results

IKON Office Solutions (Malvern, PA,) reports Q4 '97 financial results. Revenue of $1.4 billion compares with Q4 '96 revenue of $1.1 billion. Net income of $33 million compares with Q4 '96 net income of $55 million. For the year, IKON reports revenue of $5.13 billion and a net income of $130 million, compared with 1996 results of $4.1 billion and $211 million, respectively. "This was a difficult year of transition," said IKON CEO John Stuart, but "our business strategy continues on a solid growth track." IKON acquired 25 companies in Q4 '97, and 89 for the fiscal year. Total revenue growth for the company was 10%, despite a disruption in UK operations.

IKON Office Solutions: http://www.ikon.com