Xerox 2013 Annual Report Download - page 5

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Xerox 2013 Annual Report
have ranked Xerox
in the top tier of Managed
Gartner
IDC &
Forrester
Print Services vendors
worldwide
The Xerox
recycle program
for imaging supplies
operates in over
35 countries
Green World
Alliance
Results in 2013
For Xerox, 2013 was another year of steady progress – a
year in which we continued to evolve our business model,
improve operational efficiency, invest in growth and win in
the global marketplace. All while delivering value to you.
Here’s a summary of how we performed:
• Net income of $1.2 billion; adjusted net income of
$1.4 billion.¹
• GAAP earnings per share from continuing operations
of 93 cents.
• Adjusted earnings per share of $1.09, which compares to
$1.02¹ in 2012.
• Total revenue of $21.4 billion, down 1 percent or 2 percent
in constant currency¹ from 2012.
– Total Services revenue of $11.9 billion, up 3 percent.
– Total Document Technology revenue of $8.9 billion,
down 6 percent.
• Operating margin of 8.9 percent.¹
• Operating cash flow of $2.4 billion.
At the same time, we continued to take steps to build
shareholder value. In 2013, we returned nearly $1 billion
to you through $700 million of share repurchases and
almost $300 million in dividends. Last year we increased
our common stock dividend by 35 percent and just recently
announced another 9 percent increase starting in April 2014.
Nonetheless, our results were impacted by the effect of
lower revenues and operating margins stemming from
challenges in several of our businesses and a sluggish world
economy. We are tackling these obstacles head on and we
are confident our profit improvement plans will position us
for long-term growth.
Differentiating and delivering
The numbers don’t tell the entire story. In 2013, we took
aggressive action to boost future profitability and we
made some critical strategic bets that are differentiating
Xerox in the marketplace and increasing the value we bring
to our customers.
Here’s a snapshot of the
progress we made:
New clients, new markets.
Xerox is known for world-class
innovation and service. Our
investments in innovation
have generated new services
and products and have led us
to engage with new clients
and new markets around the globe. We have invested in
those businesses that are aligned with our core strengths
and market opportunities like transportation, healthcare,
education, graphic communications and customer care.
In doing so, we successfully supported the launch of new
health insurance exchanges in a half dozen states, helping
them comply with the U.S. Affordable Care Act. We simplified
services in government healthcare with Enterprise, our next
generation Medicaid Management Information System,
which helps states manage their Medicaid programs and
prevent fraud and abuse. And, we rolled out smart parking
solutions in Malaysia and Texas, as well as our real-time
analytics-based technology – Merge® – that addresses
parking challenges in car-centric cities like Los Angeles.
“ For Xerox, 2013 was another
year of steady progress –
a year in which we continued
to evolve our business model,
improve operational efficiency,
invest in growth and win in the
global marketplace.”
In 2013 the Xerox
Foundation invested
$13.5 million
in over 2600
non-profit organizations
Xerox has worked
with LA to develop
innovative solutions
to improve parking and
transportation
Xerox services
touches 2 out of
every 3
insured
lives in
the U.S.