At its annual investor conference, Xerox updated progress on its strategy with a focus on delivering long-term value for shareholders through earnings expansion, leading innovation and a diversified portfolio.
‘Increasingly, companies and governments are seeking partners to support essential processes – from document management to benefit administration. Xerox is well positioned to capture this opportunity as a result of our deep process expertise, global reach and innovation,’ said Ursula Burns, chairman and chief executive officer. ‘We’ve also been diligent in identifying specific markets where we’ll compete and we’re seeing the benefits of this focus. Good examples are in transportation and healthcare.’
The company is connecting its Managed Print Services (MPS) with its business process and IT outsourcing capabilities to create the next phase in document outsourcing, automating workflow with technology and consulting services to help clients meet the needs of an ‘always-on’ mobile workforce.
More than 20 new products were launched this year and the company is supplying the printing marketplace with systems like the Versant 2100 and Impika’s eVolution line of production inkjet printing machines.
During the investor conference, the company will outline its expectations for 2015 financial performance. Full-year 2015 GAAP earnings per share are expected to be in the range of 93 to 99 cents. Adjusted earnings per share are expected to be $1.11 to $1.17. Full-year 2014 expectations remain unchanged with GAAP earnings per share from continuing operations to be in the range of 93 to 95 cents and full-year adjusted EPS of $1.11 to $1.13.
For 2015, Xerox expects operating cash flow of $1.9 to $2.1 billion. The company also expects to allocate at least $500 million for stock buyback, and anticipates spending up to $500 million on acquisitions and approximately $300 million on dividends. Building on its share repurchase plan, Xerox’s board of directors has approved $1.5 billion increase in its current share repurchase plan.
The company continues to expect operating cash flow for 2014 at the $1.8 to $2 billion range.
