Xerox Posts Earnings Better Than Anticipated

By Alex Crichton

Rochester, NY – Xerox saw its second quarter profits fall nearly 35 percent, as it endured another quarter of weak sales.

Still, the results were better than Wall Street expectations.

And analyst TC Lewis with Canandaigua National Bank says it was a relatively good quarter, considering the economic situation they're operating under.

He says the company is able to control expenses very well, and keep them in line with sales growth.

Lewis says if sales are falling, the expenses are falling just about the same.

Xerox earned $140 million, or $.16 a share, in the second quarter.

Lewis says analysts were expecting $.11 or $.12 a share.