Xerox Corp.'s (XRX) first-quarter net income attributable to the company slid to $269 million from $281 million last year, with quarterly earnings per share remaining flat at $0.19. On an adjusted basis, net income attributable to Xerox was $319 million, lower than $334 million in the comparable period, while adjusted earnings remained unchanged at $0.23 per share. First-quarter 2012 adjustments to net income reflect the amortization of intangible assets, the company added.
On average, 10 analysts polled by Thomson Reuters expected earnings per share of $0.23 for the quarter. Analysts' estimates typically exclude one-time items.
Total revenues for the quarter were $5.5 billion, up 1 percent from $5.46 billion a year earlier, and up 2 percent in constant currency. Eight analysts estimated revenues of $5.45 billion for the quarter.
Looking ahead to the second quarter of 2012, the company expects earnings per share of $0.21 - $0.24 on a GAAP basis, and $0.25 - $0.28 on an adjusted basis, whereas 9 analysts anticipate second-quarter earnings of $0.26 per share.
For full year 2012, Xerox confirmed GAAP earnings per share guidance of $0.97 - $1.03, with adjusted earnings view to be in the range of $1.12 - $1.18 per share, including restructuring. Twelve analysts project earnings of $1.13 per share for 2012.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.