Xerox yesterday said continued growth in its digital and consulting businesses buoyed third-quarter earnings, but sales were hurt by weak performance in Latin America and falling revenue related to older light-lens technology. The company employs around 2,000 in the Republic.
Xerox, whose name is synonymous with copiers and printers, has been trying to brand itself as a consultant of workflow and document management. In September, it unveiled a new logo with the tagline: Technology/Document Management/Consulting Services.
Yesterday, Xerox said its target growth areas - office and production digital technology - as well as business services, had grown 7 per cent and now represented about 74 per cent of the company's revenue.
Ms Anne Mulcahy, chief executive, said: "Xerox's technology investments continue to fuel growth with about two-thirds of all equipment sales in the third quarter coming from products launched in the past two years."
Xerox expects fourth-quarter earnings in the range of 20 to 22 cents per share and full-year earnings in the range of 83 to 85 cents.
During the third quarter, revenue dipped from $3.73 billion (€2.95 billion) to $3.72 billion, including a currency benefit of 3 percentage points .
Net income, after payment of preferred dividends, reached $149 million, or 17 cents per share, compared with $92 million, or 11 cents per share, last year. - (Financial Times Service)
