Xerox reports on last quarter’s earnings - Total revenue down 19.7% to $1.77 billion
- Operating margin down 460 basis points to 7.4%
- Operating income down 50% to $131 million
- Net income down 42.7% to $90 million
- Total debt of $5.1 billion
- Earnings per share (EPS) of $0.59
- Gross margin down 320 basis points to 36.8%
- Hardware sales revenue down 16.1% to $419 million
o A4 color MFP units down 9%
o A4 b/w MFPs up 52%
o A3 color MFPs down 21%
o A3 b/w MFPs down 19%
o Color PPS down 38%
o B/w PPS down 13%
- Post sale revenue down 20.7% to $1.348 billion
- Research & development now 4.3% of revenue