Xerox' Third-Quarter Results Get Boost from ACS Acquisition
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Third-quarter gross margin was 33.6 percent, and selling, administrative and general expenses were 20.9 percent of revenue. On a pro-forma basis, operating margin of 9.2 percent was up nearly one point.
The $366 million in operating cash flow in the third quarter contributed to $1.4 billion in cash flow year to date. The company reiterated its expectations to deliver $2.6 billion in operating cash and $2 billion in free cash flow for the full year. The fourth quarter is seasonally the highest cash quarter of the year for the company.
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- Xerox Corp.
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