LAS VEGAS, -- Citing an impressive list of bright spots, Anne Mulcahy, Xerox president and chief operating officer, said yesterday that Xerox Corporation (NYSE: XRX) is on the way back. "I'm excited to be part of what will be one of the greatest comebacks in business history," Mulcahy told reporters and analysts at Comdex 2000, one of North America's largest IT industry trade shows. Mulcahy briefly outlined the already announced turnaround strategy but focused on elements she said will fuel the comeback: Xerox advantages in the SOHO market, the digital office, and high-value printing solutions - with color across the board. "That's where we're placing our biggest bets, and that's where the odds are in our favor," she said. Although results aren't expected until next year, Mulcahy said the payoff is already beginning. She cited Monday's news of a $310 million contract with Kinko's Inc. involving more than 2,000 Xerox products at its North American locations, and Friday's announcement of $4 million in contracts for thousands of office printers and multifunction machines. Those units are being placed at BMW Manufacturing Corp. of South Carolina; STSN, a Salt Lake City-based provider of high-speed Internet access; the Sunnyside School District of Tucson, Ariz; and the Ontario (Canada) Community Services Cluster, which comprises the ministries of housing, education, citizenship and culture. "I'd say it was a very good weekend," she quipped. Mulcahy said Xerox has the ingredients for a complete turnaround. She described the Xerox opportunity as a growing $208 billion market for documents. To address it, Xerox has an arsenal of know-how, products and solutions - and a passion to serve customers. More than 60 products have been announced so far this year, she said, and market watchers have conferred more than 100 product awards worldwide. Mulcahy pointed to the company's $1 billion investment in research and development, with a strong focus on color, as evidence that Xerox is continuing its technological assault on business productivity problems. She referenced the 74 percent growth in color revenues in the third quarter as an especially encouraging sign, and credited the acquisition and successful integration of the former Tektronix printing business as a key element in driving the growth. She said the introduction of nine new office printers this year - some at twice the print speed of the competition - has completely refreshed the product line and has helped build the bundling alliances with Compaq and Dell, initiatives that are expanding printer placements. Looking ahead, Mulcahy said, "Next year, we'll double the speed of our fastest office color printers as we continue moving color into the mainstream." She also revealed that a new family of multifunction, Internet-ready WorkCentre Pro products will be announced that are priced at about half the cost of current digital office systems. "We have great confidence that we'll be leaving our problems behind us," she said. "Xerox has faced many challenges in the past. Every time, we have emerged stronger and better for it. I'm confident we'll do it again."