Xerox enjoys excellent third quarter results

Xerox reported a profit of $105m (€107.8m) in the third quarter, ahead of expectations.

The profit, equivalent to 5 cents a share, compared with a loss of $32m (€32.85m), or 5 cents a share for the equivalent period last year.

Xerox's CEO Ann Mulcahy said "Margins are up, costs are down and Xerox's streamlined business model is delivering sustainable profitability as well as strong operational cash generation."

The company appears to be benefiting from its restructuring. It has been focusing on its core copier and printer business and has been drastically cutting costs across all its units