company is focusing on its services business, which offers
business process outsourcing and document outsourcing, as sales
of printers and copiers, its mainstay for over half a century,
have fallen for more than four years.
The company said revenue from its document technology business,
which includes sales of printers and copiers, fell 10 percent to
Xerox said in February it would split into two companies, one
holding its legacy printer operations and the other its business
process outsourcing unit.
The split is expected to take effect by the end of this year.
The company said on Monday it expected an adjusted profit of 24
cents to 26 cents per share for the second quarter.
Net income attributable to the company fell to $34 million, or 3
cents per share, in the first quarter ended March 31, from $225
million, or 19 cents per share, a year earlier.
On an adjusted basis, the company earned 22 cents per share.
Revenue fell to $4.28 billion from $4.47 billion.
Analysts on an average expected a profit of 23 cents per share
and a revenue of $4.24 billion, according to Thomson Reuters
(Reporting by Rishika Sadam in Bengaluru; Editing by Shounak
[© 2016 Thomson Reuters. All rights
Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.