Xerox Retools

摘要

The venerable copier maker recently revealed that its earnings have come in below expectations as it transitions from a manufacturing company to a services company. Xerox's revenue fell by 9 percent to $2.14 billion in the first quarter of 2013. "Europe remains weak. The U.S. remains stable, but weak. We have not seen a pickup in the U.S.," Xerox CEO Ursula Burns said on the earnings conference call with investors. Still, Burns was optimistic about the company's future in the long run, despite flat revenue projections. "We did see a slowdown, a bit of a slowdown, in some developing market economies. But our business model is fairly resilient in the developing markets," she said. This recently ended quarter, the company had a net income of $296 million or 23 cents per share, Burns said Xerox is on track to reach operating cash flow of $2.1 billion to $2.4 billion for the year.