Conduent reports earnings as stand-alone company

May 10, 2017
Originally published on May 10, 2017 9:11 am

Conduent, the New Jersey based company which used to be part of Xerox, is reporting its first quarter of earnings as a stand-alone company.

The company, which focuses on business services, saw adjusted operating income of $89 million. Earnings of 16 cents a share matched analysts’ average estimate.

Sales of $1.55 billion were slightly less than the analysts’ estimates.

But CEO Ashok Vemuri says the first quarter results were in line with the company’s expectations, reflecting the seasonality of the business and the ramp up of Conduent’s strategic transformation.

Vemuri says Conduent made progress on a number of fronts, including building out the management team and launching a more disciplined strategy.

In April, Conduent announced it will be moving a call center from Webster to Irondequoit, bringing about 750 jobs to the site of the former Macy’s at Medley Centre.