Earlier this month, SG360° announced its first outside board of directors member since It was acquired by private equity firm ICV Partners - Patrick R. Donahoe, former Postmaster General of the United States and CEO of the U.S. Postal Service (USPS). “He is really going to help us think differently,” said Schneider. “This is just the first step in a much longer-term strategy to bring a broad array of postal optimization strategies to our customers. We already help clients differentiate themselves in the look, feel, design and impact of their mail pieces. We can now leverage our scale to better drive postal efficiencies.” Click Read More below for additional information.
Third-Quarter 2019 Financial Summary:
•$356 million of operating cash flow, up $82 million year-over-year, and $339 million of free cash flow,up $88 million year-over-year
•GAAP earnings per share (EPS) of $0.96, up $0.62 year-over-year, and adjusted EPS of $1.08, up$0.23 year-over-year (YOY)
•Adjusted operating margin of 12.1 percent, up 120 basis points year-over-year
•$2.2 billion of revenue in the quarter, a decrease of 6.5 percent in actual currency, or 5.3 percent inconstant currency, year-over-year
•Increasing 2019 guidance for GAAP EPS to $3.10 – $3.20, adjusted EPS to $4.00 – $4.10, operatingcash flow to $1.2 – $1.3 billion and free cash flow to $1.1 – $1.2 billion
•Completed $368 million of share repurchases through the third quarter, expecting at least $600million in total for the year
“Our strategy and execution delivered a strong third quarter despite industry headwinds. We increased cash flow, earnings per share and adjusted operating margin while we improved the revenue trend. These results give us confidence to raise our earnings and cash flow guidance for the year as we position Xerox for long-term growth,” said Xerox Vice Chairman and CEO John Visentin.
details at: https://www.news.xerox.com/internal_redirect/cms.ipressroom.com.s3.amazonaws.com/84/files/20199/Xerox-Releases-Third-Quarter-2019-Results_201910291034.pdf