Xerox Q3 Profit Rises, Tops View - Quick Facts

(RTTNews) - Document technology and business process services provider Xerox Corp. (XRX) reported that its third-.quarter net income attributable to the company increased to $286 million or $0.22 per share, from $282 million or $0.21 per share in the same quarter last year.

On an adjusted basis, net income from continuing operations attributable to the company for the latest-quarter was $340 million, or $0.26 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $0.25 per share for the quarter. Analysts' estimates typically exclude special items.

Total Revenues for the quarter was $5.26 billion compared to $5.27 billion in the prior year quarter. Nine analysts had consensus revenue estimate of $5.34 billion for the quarter.

The company expects fourth quarter 2013 GAAP earnings from continuing operations of $0.24 to $0.26 per share and adjusted earnings per share of $0.28 to $0.30. The guidance includes approximately 2 cents per share of restructuring charges and 2 cents from higher pension settlement expenses. Analysts expect the company to report earnings of $0.33 per share for the quarter.

The company expects full-year 2013 GAAP earnings per share from continuing operations in the range of $0.93 to $0.95, and adjusted earnings per share of $1.08 to $1.10. The company said in July that it expected earnings per share from continuing operations in the range of $0.94 to $1.00, and adjusted earnings per share of $1.09 to $1.15. Analysts expect the company to report earnings of $1.12 per share for fiscal 2013.