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Home » Xerox’s (XRX) CEO Ursula Burns on Q2 2014 Results – Earnings Call Transcript

Xerox’s (XRX) CEO Ursula Burns on Q2 2014 Results – Earnings Call Transcript

Source: Seeking Alpha

 

Xerox Corporation (NYSE:XRX)

Q2 2014 Results Earnings Conference Call

July 25, 2014 10:00 AM ET

Executives

Ursula Burns – Chairman and CEO

Kathy Mikells – Executive Vice President and CFO

Jim Lesko – Vice President, Investor Relations

Bob Zapfel – EVP, President, Xerox Services

Jeff Jacobson – President, Document Technology

Analysts

Brian Essex – Morgan Stanley

Ben Reitzes – Barclays

Shannon Cross – Cross Research

Jim Suva – Citigroup

George Tong – Piper Jaffray

Keith Bachman – BMO Capital Markets

Tien-tsin Huang – JPMorgan

Ananda Baruah – Brean Capital

Bill Shope – Goldman Sachs

James Friedman – Susquehanna

Operator

Good morning. And welcome to the Xerox Corporation Second Quarter 2014 Earnings Release Conference Call hosted by Ursula Burns, Chairman of the Board and Chief Executive Officer. She is joined by Kathy Mikells, Executive Vice President and Chief Financial Officer.

During this call, Xerox executives will refer to slides that are available on the web at www.xerox.com/investor. At the request of Xerox Corporation, today’s conference call is being recorded. Other recording and/or rebroadcasting of this call are prohibited without the express permission of Xerox. After the presentation, there will be a question-and-answer session. (Operator Instructions)

During this conference call, Xerox executives will make comments that contain forward-looking statements, which by their nature address matters that are in the future and are uncertain. Actual future financial results may be materially different than those expressed herein.

At this time, I would like to turn the meeting over to Ms. Burns. Ms. Burns, you may begin.

Ursula Burns – Chairman and CEO

Good morning and thanks for joining our call. Today we are reporting second quarter 2014 earnings that continued to reflect the benefits of our diversified portfolio and strong cash flow. We remain focused on our priorities and we are making progress.

This quarter we saw a return to growth in Services and the business is well-positioned for sustained improvement. Services is now 57% of revenue and we are on track to reach our target of two-third by 2017. This important shift will drive overall revenue growth.

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