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Analysts expect lower Q4 sales, profit at Xerox

Rochester Business Journal
January 23, 2014

Analysts expect Xerox Corp. to report a drop in fourth-quarter sales and profit. The company is scheduled to release its financial results before markets open Friday.

Analysts polled by Thomson Reuters expect Xerox to report earnings per share of 29 cents, down 4 percent from 30 cents a year ago. They expect sales of some $5.65 billion, down 5 percent from $5.92 billion.

Xerox has told investors it expects fourth-quarter earnings from continuing operations of 24 to 26 cents a share and adjusted earnings per share of 28 to 30 cents. Its guidance includes approximately 2 cents a share of restructuring charges and 2 cents from higher pension settlement expenses.

For the year, analysts expect Xerox to report earnings per share of $1.09, up 6 percent from $1.03 last year. They expect sales of nearly $21.5 billion, down 4 percent from sales of $22.4 billion in 2012.

The company projects full-year earnings per share from continuing operations of 93 to 95 cents, and adjusted earnings per share of $1.08 to $1.10

Xerox on Thursday said it received 1,168 U.S. patents in 2013, adding to its portfolio of more than 12,100 active U.S. patents.
 
IFI Claims, a Fairview Research LLC company that compiles an annual patent list, ranked Xerox 32nd in its 2013 report based on 1,013 patents. That does not include some 150 patents from its wholly owned subsidiaries, such as the Palo Alto Research Center.

Combining subsidiaries and the 800 U.S. patents awarded in 2013 through Xerox’s joint venture in Japan, Fuji Xerox Co. Ltd., Xerox would be ranked 10th with 1,968 patents on the IFI Patent Intelligence list worldwide, the company reported.

Xerox ranked first on the most recent Rochester Business Journal list of manufacturers with 6,423 local workers.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 






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