Xerox, the leading provider of digital printers and document management services, posted net income of $42 million, 5 cents a share, compared with a loss of $244 million, or 27 cents a share. The year-earlier period included a $491 million charged related to a securities settlement.
The Stamford, Connecticut, company rebounded from fiscal troubles earlier this decade, spurred by solid profits and improved market share, despite tepid sales growth.
Xerox stock closed on Thursday at $5.74 on the New York Stock Exchange. The shares have climbed about 32 percent since March 20, the day that Xerox warned its results would fall short of company targets.
(Reporting by Franklin Paul; Editing by Derek Caney)