Xerox reports last quarter’s earnings
Total revenue down 10% to $1.58 billion
- GAAP net income of $18 million, or $0.11 per share
- Adjusted net income down to $41 million
- adjusted operating margin of 5.4 percent, down 70 basis points year-over-year.
- Operating cash flow of $123 million
- Spent $51 million on restructuring costs which included shedding 2,010 employees
- Equipment installs declined:
- Color A4 down 13%
- B/w A4 down 9%
- Color A3 down 12%
- B/w A3 down 29%
- Color PPS down 22%
- B/w PPS down 24%
- (A3 engines are supplied by Fujifilm and A4 supplied by Ninestar of China)