Xerox Q4 Adj. Profit Tops View - Quick Facts

(RTTNews) - Xerox (XRX) reported fourth-quarter net income attributable to the company of $156 million or $0.13 per share, compared to $306 million or $0.24 per share in the comparable quarter last year.

On an adjusted basis, net income from continuing operations attributable to Xerox was $357 million, or $0.31 per share, up from $344 million or $0.27 per share in the prior year quarter. On average, 9 analysts polled by Thomson Reuters expected the company to report profit per share of $0.29 for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the period totaled $5.03 billion, down from $5.21 billion, a year ago. Analysts expected revenue of $5.07 billion for the quarter.

Looking ahead to the first quarter, Xerox expects GAAP earnings to be in the range of $0.16 to $0.18 per share. Analysts currently expect first quarter earnings of $0.25 per share.

For fiscal 2015, the company expects GAAP earnings from continuing operations of $0.83 to $0.89 per share and adjusted earnings in the range of $1.00 to $1.06. Analysts expect the company to report full-year earnings per share of $1.09.

Further, the Xerox Board of Directors increased the company's quarterly cash dividend by 12 percent to $0.07 per share, payable on April 30, 2015 to shareholders of record on March 31, 2014.

The board also declared a quarterly cash dividend of $0.20 per share on Xerox Series A Convertible Perpetual Preferred Stock. The dividend is payable on April 1, 2015 to shareholders of record on March 15, 2015.