Xerox is reporting another quarter of profitability, although sales remain somewhat soft.
In the 4th quarter, Xerox earned $156, or 31 cents a share. The earnings per share did beat Wall Street estimates by two cents. But sales were down about three percent, due in part to the impact of lower equipment sales overseas.
Overall, company spokeswoman Karen Arena says the company found a number of positives in the quarter.
"We think that it was a pretty solid quarter, in fact Q4 was the best quarter of the year with improved margins and revenues," Arena tells WXXI News.
At Brighton Securities, George Conboy says despite the lackluster sales, the quarter was consistent with recent quarters and that's ok.
Xerox is the “steady Eddie” of quarterly earnings reports, they deliver the goods, nothing flashy, no real growth, they are profitable"
Xerox did lower its outlook for this year, citing currency pressures with a weakening Euro. The Xerox Board of Directors this week did vote to raise the dividend by 12 percent, up about a penny, to 7 cents a share.
