Xerox Q3 Net Profit Down 7%, EPS Flat - Quick Facts

(RTTNews) - Xerox (XRX) reported 7% lower third-quarter net income attributable to the company of $266 million, versus $286 million last year. On the other hand, quarterly total earnings per share were $0.22, same as last year.

On an adjusted basis, net income from continuing operations attributable to Xerox was $320 million, or $0.27 per share this quarter. Third-quarter 2014 adjustments to net income reflect the amortization of intangible assets. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.26 for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the period totaled $5.12 billion, down 2%, compared with $5.24 billion, a year before. Analysts expected revenue of $5.19 billion for the quarter.

For the fourth quarter, Xerox expects 2014 GAAP earnings per share to be 26 to 28 cents per share and adjusted EPS to be 30 to 32 cents.

Looking further ahead, the company sees full-year 2014 GAAP earnings per share of 93 to 95 cents and adjusted EPS of $1.11 to $1.13. Analysts expect the company to report full-year earnings per share of $1.11.