In the press release, the company emphasized that third-quarter operating cash flow was $610 million. Through the third quarter, the company has generated $1.2 billion in operating cash flow, and, as a result, has increased its expectation for the full year to $1.7 billion. Xerox ended the third quarter with a cash balance of $1.2 billion. Total debt was down $938 million through the first three quarters, and the company is on track to reduce total debt by more than $1 billion this year.
The company prides itself of cutting costs aggressively. The company laid off 3,000 people and the CEO vowed to continue to run a tight ship unless the economy turns around:
Watch the video of Bloomberg interview with CEO Ursula Burns:
Xerox Corp. is owned by 5 Gurus.
1 Guru Increased Positions in XRX:
Dodge & Cox owns 122,968,904 shares , an increase of 13.36% from the previous quarter. This position accounts for 1.19% of the $66.88 billion portfolio of Dodge & Cox.
4 Gurus Kept Positions in XRX Unchanged or Slightly Adjusted:
Jean-Marie Eveillard owns 80,000 shares , which accounts for 0.01% of the $8.91 billion portfolio of Arnhold & S. Bleichroeder Advisers, LLC.
Charles Brandes owns 30,411,696 shares , which accounts for 1.08% of the $18.33 billion portfolio of Brandes Investment.
David Dreman owns 33,353 shares , which accounts for 0.01% of the $3.12 billion portfolio of Dreman Value Management.
Robert Olstein owns 1,914,700 shares , which accounts for 2.66% of the $467 million portfolio of Olstein Financial Alert Fund.
1 Guru Sold Out XRX: Bill Nygren sold out his holdings in the quarter that ended on 06/30/2009.
There has been no insider trading activity, buying or selling, with the company in the past 6 months.