Xerox has reported an increase in corporate demand for printing and document management services after posting a solid first quarter. Xerox says businesses are using their printers more, boosting sales of high-margin ink, toner and paper even though equipment sales remain slow.
“We started the year strong with the successful acquisition of ACS and solid performance in revenue, operational improvements and cash generation,” said Ursula Burns, Xerox chief executive officer. “As a result, earnings reflect the benefit of our market leadership and expanded offerings in business process and document management.”
Total first-quarter revenue of $4.7 billion was up 33 percent including a 3 point currency benefit. On a pro-forma basis, with ACS in the company’s 2009 results, total revenue grew 5 percent.