Xerox Corporation announced second-quarter 2007 earnings per share of US$0.28. Total revenue of $4.2 billion grew 6% in the quarter. Post-sale and financing revenue--Xerox's annuity streams that represent more than 70% of total revenue--increased 7%. Both total revenue and post-sale revenue included a currency benefit of 2 percentage points as well as the benefit from Xerox's acquisition of Global Imaging Systems, which was completed in early May.
Since the beginning of the year, Xerox has introduced 28 new products, 10 of which are color devices, doubling the 14 total product launches in 2006. More than two-thirds of Xerox's equipment sales revenue comes from products launched in the past two years. Revenue from color grew 12% in the second quarter and now represents 38% of Xerox's total revenue, up 4 points from the second quarter of 2006.
Xerox expects third-quarter 2007 earnings in the range of $0.24 to $0.26 per share.