Services steady Xerox's revenue

Article Excerpt

XEROX CORP. $7.19 (New York symbol XRX; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 1.4 billion; Market cap: $10.1 billion; Price-to-sales ratio: 0.4; Dividend yield: 2.4%; TSINetwork Rating: Average; www.xerox.com) recently started providing services to businesses, such as processing credit card applications and insurance claims. That’s helping the company lower its reliance on more cyclical sales of office equipment, like copiers and printers. In the three months ended March 31, 2012, Xerox’s revenue rose 0.7%, to $5.50 billion from $5.47 billion a year earlier. However, ongoing investments to expand its services operations cut its earnings by 4.5%, to $319 million from $334 million a year earlier. Earnings per share were unchanged at $0.23. Xerox is a hold. hold…