Xerox Corporation (NYSE: XRX) managed to double its profits after the prior year’s quarter was riddled with charges, but the trend of light revenues is not one which escaped the copying and office equipment giant. One of the blames was on soft sales out of its technology area and economic weakness out of Europe. The technology area covers printers and other supplies.
Technology revenues in the fourth quarter were down over 4% at $2.71 billion. Xerox’s service revenues which helps in outsourced operations and in support did manage to grow by more than 5% to $2.87 billion.
The company’s guidance for the current quarter is $0.21 to $0.24 EPS versus $0.24 EPS estimates.
Xerox shares are indicated down only marginally by 0.3% at $8.64 against a 52-week range of $6.55 to $11.50.
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