Boston, MA 04\/23\/2014 (wallstreetpr) –\u00a0Xerox Corp (NYSE:XRX) <\/b>reported its first quarter 2014 (1Q2014) results with adjusted EPS of $0.27, revenues of $5.1 billion, and adjusted operating income of $442 million with a margin of 8.6%.<\/p>\n
Well diversified businesses retain growth<\/b><\/p>\n
During 1Q2014, total revenues were down by 2% to $5.1 billion, and Services business remains flat at $2.9 billion that accounts 57% of total revenue. Positive growth in both document and IT outsourcing offset the decreasing revenues of BPO services by 2% that resulted from lower renewal. Segment margin was 8.6% due to solid growth outside the U.S.<\/p>\n
On the other end, Document Technology business represents 40% of total revenue. Revenue from the business was down by 5% at constant currency to $2.0 billion, but, the segment improved its margin to 12.2%. The continued weakness in the developing market and slow improvement in Europe will keep on affecting the segment performance. However, stable markets in the U.S. will provide opportunities to grow. Document Technology showed strong margin and provided 13% increase in overall operating profit during the period.<\/p>\n
Positive cash flow from operation<\/b><\/p>\n
Xerox Corp (NYSE:XRX) generated $286 million cash from its operation with capital expenditures of $103 million during 1Q2014. The Company continues to invest outside the U.S. and expand its services that offer high growth potential and anticipates free cash flow at a range of $1.3-$1.5 billion in FY2014.<\/p>\n
The Company repurchased shares of $275 million and strong cash position support for additional repurchase of its share. So, the Company expects share repurchase of $500 million to $700 million in FY2014 to increase shareholders\u2019 value. .<\/p>\n
In FY2014, Xerox Corp (NYSE:XRX) expects a flat growth as a result of slow growth Services business compared to Document Technology. The increasing implementation costs in government healthcare will further reduce its earnings guidance for the year 2014. The Company expects an adjusted EPS of $1.07 to $1.13 in FY2014.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 04\/23\/2014 (wallstreetpr) –\u00a0Xerox Corp (NYSE:XRX) reported its first quarter 2014 (1Q2014) results with adjusted EPS of $0.27, revenues of $5.1 billion, and adjusted […]<\/p>\n","protected":false},"author":2,"featured_media":19161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[1444,4781],"stock_ticker":[],"class_list":["post-20046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-nysexrx","tag-xerox-corp-nysexrx","entry"],"acf":[],"yoast_head":"\n