CORRECTED - Ikon sells leasing units to GE Commercial
Wednesday March 31, 7:57 pm ET
In NEW YORK story headlined "Ikon sells leasing units to GE Commercial" please read in paragraph 1 ... completed a deal to sell its U.S. leasing business and announced a separate agreement to sell a Canadian unit to GE Commercial Finance ... instead of ... said it completed its previously announced deal to sell its U.S. leasing business and a Canadian unit to GE Commercial Finance, which will result in a loss ...
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In paragraph 3 please read ... As a result of the closing of the U.S. leasing business deal ... instead of ... As a result of the closing of this deal ... (corrects to make clear the Canadian deal has not yet closed).
A corrected version follows.
NEW YORK, March 31 (Reuters) - Business equipment and services company Ikon Office Solutions Inc. (NYSE:IKN - News) on Wednesday said it completed a deal to sell its U.S. leasing business and announced a separate agreement to sell a Canadian unit to GE Commercial Finance.
For the second quarter ended March 31, Ikon said it expects to record a pretax loss on the transactions of about $13 million to $18 million, related to accounting, legal and consulting fees and other expenses.
As a result of the closing of the U.S. leasing business deal, Ikon said its previous 2004 earnings forecast for 82 cents to 87 cents per diluted share and cash from operations of $325 million to $350 million for the full fiscal year will be revised.
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