Xerox Sales Rise, But Job Cuts Continue
ROCHESTER, NY—Xerox Corp. saw its first growth in equipment sales since 2011, according to its most recent quarterly fiscal results, but the technology side of the business continues to founder and more jobs are expected to be eliminated, the Rochester Democrat and Chronicle reported.
Xerox reaped $5.4 billion in sales for the period ending June 30, a 1 percent increase from the same period in 2012. Service revenues were up 5 percent over the same three months last year, but the technology business (which includes equipment sales and supplies) shrank 5 percent. Xerox also reported its largest-ever order for high-speed iGen color presses during the quarter. The paper noted that business services now account for 55 cents of every dollar Xerox makes.
However, the 5 percent drop in technology business was an improvement over the 9 percent decline in the first quarter. Equipment sales aided the improvement, according to Xerox.
Xerox reaped profits of $271 million (22 cents per share) after expenses, down from $309 million (23 cents per share) a year ago.