Xerox 2007 Annual Report Download - page 13

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Xerox Annual Report 2007 11
We operate a global business with about half of our revenue generated from customers
outside of the U.S. From small and medium businesses and the public sector to large
enterprises and commercial printers, we serve a wide range of markets – giving us
diversification globally and in market scope.
We’re an annuity-based business that continues to boost profitable recurring revenues.
We’re an investment-grade firm that generates strong cash flow. We’re investing in our
business and in our stock.
All of us at Xerox are eager to play offense and to give you a good return on your trust.
We’re listening, we’re connecting and we’re committed. We know that you, like our
customers, have choices. You chose Xerox and we take that very seriously. You can be
sure we will do whatever it takes to continue to earn your trust.
That’s a promise.
Anne M. Mulcahy
Chairman and Chief Executive Officer
Full-year ’07 Full-year ’06
Net Income Diluted EPS Net Income Diluted EPS
As Reported $ 1,135 $ 1.19 $ 1,210 $ 1.22
Adjustments
Restructuring and Asset Impairment 254 0.25
Tax Audit Benefits (494) (0.50)
Litigation Matters 68 0.07
Credit Facility Fee 9 0.01
Adjusted $ 1,135 $ 1.19 $ 1,047 $ 1.05
Adjusted Earnings Per Share:
(in millions, except per-share data)
Year Ended December 31
2007 2006 %Change
Equipment Sales Revenue:
As Reported $ 4,753 $ 4,457 7%
As Adjusted $ 4,753 $ 4,821 (1%)
Post Sale, Financing and Other Revenue:
As Reported $ 12,475 $ 11,438 9%
As Adjusted $ 12,475 $ 11,812 6%
Total Revenue:
As Reported $ 17,228 $ 15,895 8%
As Adjusted $ 17,228 $ 16,633 4%
Global Imaging Systems Revenue Benefit:
(in millions)
Revenue “As Adjusted” adds Global Imaging’s results for the period from May 9, 2006, through December 31, 2006, to our 2006 “As Reported”
revenue. This calculation excludes the revenue benefit from this acquisition reflected in the 2007 “As Reported” revenue growth.
*Non-GAAP Reconciliation