Oem Xerox Earnings Down $56,000.000.00

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Oem Xerox Earnings Down $56,000.000.00

 news 2015-04-28 at 11:11:48 am Views: 227
  • #42417

    Oem Xerox Earnings Down $56,000.000.00
    Xerox Earnings Drop as Printer Sales Declines
    BY Kelly Rhodes

    Xerox Corp., a well known maker of printers and copiers, reported a 6% fall in its first quarter earnings. The company’s earnings have been greatly affected by the strong dollar and low printer sales.

    Xerox’s net income declined to $225 million or 19 cents a share in the first quarter from $281 million, an equivalent of 23 cents a share in the previous year. The company’s adjusted earnings a share came in at 21 cents, including 5 cents per share for amortization of intangibles. Earning a share were 16 cents.

    Thomson Reuters’ estimated Xerox’s earnings at 21 cents a share on sales of about $4.56 billion. The company’s projected earnings were 16 to 18 cents a share and adjusted earnings of 20 to 22 cents a share. CEO Ursula Burns said that the company’s earnings conform to the guidance provided.

    Xerox is now expecting adjusted earnings of between 95 cents to $1.01 per share, down from the company’s earlier forecast of between $1 and $1.06 per share. The company also expects currency fluctuations and revenue to fall by 1%, although its previous forecast indicates flat revenue for the year.

    Although Xerox is well known for its printers and copier, it has been working to switch to a service provider that focuses on bill processing, IT outsourcing and document management. Xerox bought Consilience Software.

    However, the merger has come with many challenges, including a decline in the sales of copiers and printers and, of course, the cost of expanding the business. The weakening of the Euro has also affected the company’s earnings.