Oem Xerox Earnings Down $56,000.000.00

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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.

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.

[Author]

April 28, 2015 at 11:11 AM