The service, outsourcing and rentals area of the business reported revenue of $3.5 billion for the three month period ending 30 June, a staggering 82 percent increase on the same period in 2009. Sale revenue also increased by 12 percent to $1.7 billion
Xerox also reports that colour revenue has increased by eight percent. In particular high-end colour system installs rose by 24 percent, whereas high-end black and white devices fell by seven percent.
Ursula Burns, Xerox Chairman and Chief Executive Officer, said: “Our second-quarter results reflect strong across-the-board performance in driving revenue growth, generating cash and expanding earnings.
“Through the first half of the year, we’ve made excellent progress in scaling our services business and strengthening our leadership in the marketplace. We expect this progress will continue, positioning us well to increase our earnings expectations for the full year.”
Burns, alongside Vice Chairman and Chief Financial Officer Larry Zimmerman, hosted a live audio webcast of the results at 10AM EST. The webcast was broadcast here, and will be made available for later access.
During the webcast, Burns attributed much of the company’s service growth to its acquisition of Affiliated Computer Services. As reported by the Recycler, Xerox completed its acquisition of ACS in February of this year, creating a $22 billion combined document management company.
Burns also said that the company’s high growth in colour reflected a general shift as new technology was introduced, helped by Xerox’s new Colour 800/1000 Digital Presses.
She added that black and white high end devices was the only segment to decrease, reflecting a struggling design industry.
The full financial report can be found online here.