Key Developments: Xerox Corp (XRX.N)
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Latest Key Developments (Source: Significant Developments)
Xerox Corp Announces Acquisition Of LearnSomething Inc-DJ
Dow Jones reported that Xerox Corp has acquired e-learning software provider LearnSomething Inc. in an effort to broaden its services to the food, drug and health-care industries. Financial terms weren't disclosed. Full Article
Domtar Corp Completes The Acquisition Of Xerox Corp's U.S. And Canadian Paper Business
Domtar Corp announced the completion of its acquisition of Xerox Corp paper and print media products business in the United States and Canada, pursuant to an agreement entered into on March 21, 2013. The transaction includes a broad range of coated and uncoated papers and specialty print media including business forms, carbonless as well as wide-format paper formerly distributed by Xerox. The addition of a globally-recognized brand to Domtar's existing portfolio of high quality, sustainability-driven paper products will allow the Company to better serve its customers. Full Article
Xerox Corp Declares Dividend on Common and Preferred Stock
Xerox Corp announced that it has declared a quarterly cash dividend of 5.75 cents per share on Xerox common stock. The dividend is payable on July 31, 2013 to shareholders of record on June 28, 2013. The board also declared a quarterly cash dividend of $20 per share on Xerox Series A Convertible Perpetual Preferred Stock. The dividend is payable on July 1, 2013 to shareholders of record on June 15, 2013. Full Article
Xerox Corp Issues Q2 2013 EPS Guidance Below Analysts' Estimates; Reaffirms FY 2013 EPS Guidance
Xerox Corp announced that for second quarter of 2013, it expects GAAP earnings of $0.19 to $0.21 per share and adjusted earnings per share (EPS) of $0.23 to $0.25 per share. The company plans a higher level of restructuring activities in the second quarter, and has included $0.02 of restructuring in its guidance. Expected first-half results will keep Xerox on track to meet its fiscal 2013 guidance for GAAP earnings per share in the range of $0.94 to $1.00 and adjusted EPS of $1.09 to $1.15. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.26 for second quarter of 2013 and EPS of $1.12 for fiscal 2013. Full Article
Xerox Corp Appoints Kathryn Mikells As Chief Financial Officer
Xerox Corp announced the appointment of Kathryn Mikells as Chief Financial Officer and an Executive Vice President of the corporation. Full Article
Domtar Corp's Operating Subsidiaries to Acquire Xerox Corp's U.S. and Canadian Paper Business
Domtar Corp announced that it has signed, through its operating subsidiaries, an agreement to acquire Xerox Corp's paper and print media products business in the United States and Canada. While Xerox does not manufacture paper, the company has long distributed through its brand name a broad range of coated and uncoated papers and specialty print media including business forms as well as carbonless and wide-format paper. This business will now become part of Domtar`s pulp and paper segment, and Domtar will market and distribute Xerox-branded paper and print media. Xerox will continue to manufacture, sell and support its broad range of consumables, such as toner and ink, and Xerox Replacement Cartridges. The transaction is expected to close in the second quarter of 2013. Full Article
Xerox Corp Announces Appointment Of Interim CFO-Form 8-K
Xerox Corp reported in its Form 8-K that effective March 1, 2013, Leslie F. Varon, Vice President, Finance and Corporate Controller of Xerox Corporation, will assume the duties of Registrant’s principal financial officer on an interim basis until such time as Registrant appoints a new Chief Financial Officer (CFO). Full Article
Xerox Corp Announces To Acquire Impika
Xerox Corp announced that it has acquired Impika, a leader in the design, production and sale of production inkjet printing solutions used for industrial, commercial, security, label and package printing.Impika offers a portfolio of aqueous (water-based) inkjet presses based on proprietary technology. Impika product lines include iPrint, a range of continuous feed production printers that print at speeds as fast as 375 meters per minute, and iPress, a range of graphic communications digital presses with resolutions of up to 2400 x 1200 dpi. Impika, based in Aubagne, France, sells its products to print providers through its direct sales force and through a global network of channel partners, including Xerox, which has been reselling the Impika brand in Europe since 2011, and recently expanded to several developing markets.Terms of the transaction were not disclosed. Full Article
Xerox Corp Increase In Quarterly Dividend On Common Stock
Xerox Corp announced that Board Of Directors declared a 35 %increase in the Company`s quarterly cash dividend to 5.75 cents per share on Xerox common stock. The dividend is payable on April 30, 2013 to shareholders of record on March 28, 2013. The board also declared a quarterly cash dividend of $20 per share on Xerox Series A Convertible Perpetual Preferred Stock. The dividend is payable on April 1, 2013 to shareholders of record on March 15, 2013. Full Article
Xerox Corp Issues Q1 2013 EPS Guidance Below Analysts' Estimates; Reaffirms FY 2013 EPS Guidance
Xerox Corp announced that for first quarter of 2013, it expects GAAP earnings of $0.19 to $0.21 per share (EPS) and adjusted EPS of $0.23-$0.25 per share. The company reiterated its fiscal 2013 guidance of GAAP earnings per share in the range of $0.94-$1.00 and adjusted EPS of $1.09-$1.15. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.24 for first quarter of 2013. Full Article
Xerox focuses on services as printer business declines
- Printer and copier maker Xerox Corp forecast current-quarter earnings below estimates as it accelerates efforts to transform itself into a technology services provider.
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