Xerox’s second-quarter net income rises 41pc

22 Jul 2011

Document management technology company Xerox Corp has lifted its earnings outlook for the year following an increase in second-quarter net income of 41pc on 1.9pc higher revenue.

Earnings reached US$319m, or 22 cents a share, from US$227m, or 16 cents, in the same period a year earlier.

The latest adjusted net income was 27 cents a share.

Xerox Corp’s revenue rose to US$5.61bn from US$5.51bn, and the company now expects to earn 91-96 cents a share, or an adjusted US$1.07-$1.12.

Xerox Corp’s previous estimates were at 89-94 cents a share and US$1.05-$1.10 adjusted.

“During the second quarter, our disciplined focus on scaling our services business and delivering operational improvements helped to increase bottom-line results and generate operating cash, positioning us well to increase our earnings expectations for the full year,” said Ursula Burns, Xerox chairman and chief executive officer.

Photo: Ursula Burns, Xerox chairman and CEO. Photo by Lonnie Major