Xerox Q4 Profit Matches Estimates - Quick Facts

(RTTNews) - Xerox (XRX) reported that its fourth-quarter net income attributable to company decreased to $306 million or $0.24 per share, from $335 million or $0.26 per share, last year. Earnings per share from continuing operations was $0.25, compared to $0.26, a year ago. On an adjusted basis, net income from continuing operations attributable to Xerox was $361 million, or $0.29 per share, for the quarter.

On average, 11 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 declined to year-over-year to $5.57 billion, from $5.76 billion. Analysts expected revenue of $5.64 billion, for the quarter.

For first-quarter 2014, Xerox expects GAAP earnings of $0.19 to $0.21 per share and adjusted earnings per share of $0.23 to $0.25 per share. Analysts expect the company to report first-quarter earnings per share of $0.24.

The company reiterated its full-year 2014 guidance of GAAP earnings per share in the range of $93 to $0.99, and adjusted earnings per share of $1.10 to $1.16. Analysts expect the company to report fiscal 2014 earnings per share of $1.14.

Xerox's board increased the company's quarterly cash dividend by 8.7 percent to 6.25 cents per share, beginning with the dividend payable on April 30, 2014.