Xerox Reports Second-Quarter 2017 Earnings

• GAAP EPS from continuing operations of 63 cents, adjusted EPS of 87 cents
• Total revenue of $2.57 billion, down 8.1 percent or 6.4 percent in constant currency year-over-year
• Adjusted operating margin of 13.3 percent, up 0.4 points year-over-year
• Operating cash flow of $343 million from continuing operations, up $84 million from the same period in 2016
• Affirms full-year revenue, cash flow and operating margin guidance; narrows EPS guidance
• Financial Statements for prior periods revised to reflect the equity income impact from the Fujifilm investigation of Fuji Xerox accounting practices

Xerox (NYSE: XRX) today announced its second-quarter 2017 financial results.

“We are pleased with the strong operating margins and cash flow we delivered, as well as the continued progress on our Strategic Transformation initiatives,” said Jeff Jacobson, Xerox chief executive officer. “This resulted in solid operating results despite revenue declines, which were driven by lower equipment sales as we transition to the recently launched ConnectKey portfolio.” Jacobson added, “The new product line-up has been met with enthusiasm by customers, partners and industry experts, fueling our confidence in improving revenue trends later this year and into next.”

The company delivered second-quarter 2017 GAAP earnings per share (EPS) from continuing operations of 63 cents, reflecting its one-for-four reverse stock split on June 14, 2017. Adjusted EPS was 87 cents, which excludes 24 cents per share of after-tax costs related to the amortization of intangibles, restructuring and related costs, and certain retirement related costs.

Revenues were $2.57 billion in the quarter, down 8.1 percent or 6.4 percent in constant currency. Post sale revenue was 79 percent of total revenue.

Second-quarter adjusted operating margin was 13.3 percent, up 0.4 percentage points from the same quarter a year ago.

Xerox generated operating cash flow of $343 million from continuing operations during the second quarter and ended the period with a cash balance of $1.25 billion. The company returned $68 million in dividends to shareholders.
more detail at:  https://www.news.xerox.com/internal_redirect/cms.ipressroom.com.s3.amazonaws.com/84/files/20176/NR%20Aug%201%202017%20Xerox%20Reports%20Second-Quarter%202017%20Earnings.pdf

Related Posts

Costco Wholesale Corporation Reports May Sales Results

Costco Wholesale Corporation reported net sales of $19.64 billion for the retail month of May, the four weeks ended June 2, 2024, an increase of 8.1 percent from $18.16 billion last year. Net sales for the first 39 weeks were $186.07 billion, an increase of 6.9 percent from $174.07 billion last year.

USPS Reports Best Consecutive Quarterly Performance For Marketing Mail

The United States Postal Service reported new delivery performance metrics for the fiscal second quarter dating through the month of March. Through the second quarter, the average time for delivery of a mailpiece across the postal network was 2.7 days. First-Class Mail performance showed steady improvements over the past five consecutive weeks, reaching 93.9 percent for the week ending April 1. The latest performance scores for Marketing Mail reflect the two best consecutive quarters since measurement began in FY 2011. Second quarter service performance scores covering Jan.1 through April 1 included: *First-Class Mail: 87.9 percent of First-Class Mail delivered on time against the USPS service standard, a decrease of 1.3 percentage points from the fiscal first quarter. *Marketing Mail: 92.6 percent of Marketing Mail deliver ed on time against the USPS service standard, consistent with performance from the fiscal first quarter.*Periodicals: 81.9 percent of Periodicals delivered on time against the USPS service standard, an improvement of 1 percentage point performance from the fiscal first quarter.

Athleta Expands REI Co-op Partnership from five to 135 Stores Nationwide and Online

Athleta announced the expansion of a wholesale partnership with REI Co-op, bringing a curated selection of its product to 135 REI stores nationwide and online. As part of its growth plan to reach $2 billion in net sales by 2023, Athleta has committed to investing in new touchpoints to increase awareness and drive new customer acquisition. The collection will include select styles of Athleta premium performance and lifestyle apparel and accessories, designed by women for women. Customers will be able to shop Athleta core lifestyle, hike and yoga bottoms, along with key tops and accessories. Additionally, REI will carry select extended sizing options from size 0-26 in hiking and fitness apparel designs in one-quarter of all stores and on REI.com, bringing women even more inclusive sizing options and ways to shop.
Back To Top
×Close search
Search