Xerox 'sales figures to improve'

Xerox has announced first-quarter 2010 results that include adjusted earnings per share of 18 cents and $375 million in operating cash flow.

Adjusted EPS excludes 22 cents from previously disclosed restructuring charges, intangibles, acquisition-related costs and other discrete items, resulting in a GAAP loss of 4 cents per share.

"We started the year strong with the successful acquisition of ACS and solid performance in revenue, operational improvements and cash generation," said Ursula Burns, Xerox chief executive officer.

"As a result, earnings reflect the benefit of our market leadership and expanded offerings in business process and document management."

Total first-quarter revenue of $4.7 billion was up 33 per cent including a 3 point currency benefit.

On a pro-forma basis, with ACS in the company's 2009 results, total revenue grew 5 per cent.

Revenue from technology, which represents the sale of document systems as well as the supplies, technical service and financing of products, was up 6 per cent including a 3 point currency benefit. Total install activity for Xerox equipment was up 17 per cent.

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