Xerox IT Outsourcing
Xerox recently reported a first quarter profit, as that company continued to grow its document and IT outsourcing offerings and more than quadrupled its first-quarter earnings from a year ago. However, shares of the stock slipped on expected weakness stemming from the disaster in Japan.
The CEO of Xerox Ursula Burns said that the good results reflect solid progress in scaling their services business while maintaining leadership in document technology. A 5% climb in services from its business process, information technology and document outsourcing divisions helped to fuel sales, and offset flat revenue in its technology division. Xerox continued to grow its document outsourcing portfolio, with installs in its mid-range color systems up 27% and growth in high-end color systems up 19%. The company said that it has been impacted by the Japanese disaster, but is focusing on minimizing any disruption.