Xerox moving to services business model

Ursula Burns, chairman and CEO of Xerox, used a recent annual shareholders meeting to outline the company’s strategy. She said: “2012 was a year of alignment: aligning costs with a services-focused business model, aligning investments with key priorities, aligning our diverse portfolio with market opportunities and aligning operations to address these opportunities.”
She revealed that 55 percent of Xerox’s total revenue now comes from services, and that this will grow to two-thirds by 2017.
Xerox’s results from 2012 show $22.4 billion of full-year revenue and operating cash flow of $2.6 billion and an adjusted net income of $1.4 billion. Xerox delivered adjusted earnings per share of $1.03, as well as $1.1 billion in share repurchase and $255 million in dividends. Xerox recently increased its quarterly dividend by 35 percent and expects to repurchase at least $400 million in shares this year.

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