Xerox Q1 Profit Beats Estimates; Lowers 2014 Earnings Outlook - Quick Facts

(RTTNews) - Xerox (XRX) reported that its first-quarter net income attributable to company decreased to $281 million from $296 million, a year ago. Earnings per share was $0.23, flat with last year. Adjusted earnings per share was $0.27.

On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.24 for the quarter. Analysts' estimates typically exclude special items.

Total revenues decreased to $5.12 billion from $5.20 billion, a year ago. Analysts expected revenue of $5.15 billion for the quarter.

As a result of increased implementation costs in government healthcare, the company lowered its guidance for both full-year Services segment margin and 2014 earnings.

Second-quarter 2014 GAAP earnings per share is expected to be between $0.21 to $0.23 per share. Second-quarter adjusted earnings per share is expected to be between $0.25 to $0.27. Analysts expect the company to report second-quarter earnings per share of $0.28.

The company expects its full-year 2014 GAAP earnings per share of $0.90 to $0.96 and full-year adjusted earnings per share of $1.07 to $1.13. Analysts expect the company to report full year 2014 earnings per share of $1.13.