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Xerox posts last quarter’s earnings

Total revenue down 35.3% to $1,465 billion

o Hardware sales down 38.5% to $310 million
A4 color MFP installs down 35%
A4 b/w MFP installs down 9%
Midrange color A3 MFP installs down 46%
Midrange b/w A3 MFP installs down 42%
PPS color installs down 58%
PPS b/w installs up 2%
o Post sales revenue (services/supplies) down 34.3% to $1,155 billion
o Americas revenue down 34.2% to $990 million
“Demand in federal and health care remains strong”
“In the U.S., our large enterprise business continue to see growth in sales
to federal government and health care customers”
o Services (managed IT, MPS, FM) down 29.2% to $604 million
- Operating income down 77.9% to $62 million
- Net income down 80.9% to $27 million
- Gross margin down 60bps to 38.5%
- Adjusted operating margin down to 4.2%
- R&D down 130bps to 5.2% of revenue
- Total debt $4 billion
- have now reopened roughly half of facilities
o more than 50% of active employees have resumed working onsite in some

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