configuring an MTA and outlook are completely different. look for a good how-to (flurdy.com/docs/postfix/) on the internet for installing an MTA called postfix, it wraps sendmail though so mail and xmail would not work with it, but Postfix should do what you need. Postfix will turn your box into an email server that can send and receive email independently of any other service (hotmail, gmail, aol.com, etc). Be sure to follow all the instructions in the how to and make sure your server is not an Open Relay (meaning spammers can use your box to send there junk).
When you properly configure the mail server, I suggest having your script output to stdout and then you can use the following command in cron set to the time you want and you will be set:
jim@my_box_name:/home/username$ my_script_name | sendmail email@example.com
I hope this works for you. Setting up an email server can be a doosey, so be prepared to put some time into the project.
best of luck to you.