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Xerox, whose shares were down 3.3 percent in premarket trading,
said last week it would record a charge of about $145 million as
it restructures the business.
The company, like rivals Lexmark International Inc and
Hewlett-Packard Co, is focusing on high-value software and
service businesses as companies reduce printing to cut costs and
consumers shift to mobile devices.
Overall net restructuring and asset impairment charges totaled
$157 million in the three months ended June 30.
Excluding items, net income from continuing operations
attributable to Xerox was 22 cents per share.
That was in line with the average analyst estimate, according to
Thomson Reuters I/B/E/S.
Xerox said it expected to incur additional restructuring charges
of about 1 cent per share in the current quarter.
The strong dollar had a 4 percentage point negative impact on
total revenue, which fell 7 percent to $4.59 billion, Xerox
said. Analysts had expected revenue of $4.64 billion.
Including the charges, Xerox's net income attributable to the
company fell to $12 million, or 1 cent per share, from $266
million, or 22 cents per share, a year earlier.
(Reporting by Devika Krishna Kumar in Bengaluru; Editing by
Saumyadeb Chakrabarty and Ted Kerr)
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