This Week in Xerox "TWIX Notes"

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Xerox reported its last quarter’s financials:


o earnings per share of 12 cents

o total revenue up 42% (includes ACS)

o cash flow of $1.3 billion

o operating margin of 10.4%

o 11% increase in revenue from Business Process Outsourcing

o 5% increase in IT outsourcing revenue

o 13% increase in service signings

o 4% increase in equipment sales

 Color equipment sales revenue up 6%

 25% increase in A4 b/w units

 27% increase in A4 color units

 4% increase in color printer units

 2% decrease in midrange b/w units

 22% increase in midrange color units

 11% decrease in b/w production print units

 19% increase in color production print units

 Gross margin decreased 1% to 34.1%

o Total liabilities of $18 billion

o Bad debt expense decreased by $45 million

o Digital pages under contract declined 2%

 Color pages under contract increased 11%

o $264 million in employee severance costs from 6,000 employee layoff

o $19 million loss associated with sale of operations in Venezuela

Xerox’s chief financial officer (CFO), Lawrence Zimmerman, announced he is leaving the company. Replacement will be Lucan Maestri, formerly of Nokia Siemens.

Xerox announced that Better Buys for Business gave a “Innovative Product of the Year” award for the Xerox WorkCentre 7545/7556 color laser MFPs (which are made by Fuji)

Xerox announced it sold an iGen4 220 production color system to SCICOM Data Services of Minnetonka, Minnesota. The 220 is two iGen4 110 systems connected together to produce full-color two-sided documents at 110ppm.

-=Good Selling=-