Falling revenue did not prevent S&P 500 (NYSE:SPY) component Xerox Corporation (NYSE:XRX) from reporting a profit boost in the fourth quarter. Xerox engages in the development, manufacturing, marketing, services and finance of document equipment, software, solutions and services worldwide.

Investing Insights: Will the iPad 3 Be the Next Catalyst for Apple’s Stock?

Xerox Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for the business equipment company rose to $375 million (26 cents per share) vs. $171 million (12 cents per share) in the same quarter a year earlier. This is a more than twofold rise from the year earlier quarter.

Revenue: Fell 0.2% to $5.96 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: XRX reported adjusted net income of 33 cents per share. By that measure, the company beat the mean estimate of 32 cents per share. Analysts were expecting revenue of $6.07 billion.

Quoting Management: “Our performance reflects Xerox’s operational discipline in delivering strong bottom-line results while scaling our services business and maintaining our leadership in document technology,” said Ursula Burns, Xerox chairman and chief executive officer.

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by one cent in the third quarter, by 3 cents in the second quarter, and by one cent in the first quarter.

Looking Forward: The average estimate for the first quarter of the next fiscal year is steady at 24 cents a share. The average estimate hasn’t changed from $1.08 per share for the fiscal year.

Competitors to Watch: Canon Inc. (NYSE:CAJ), Pitney Bowes (NYSE:PBI), Staples (NASDAQ:SPLS), Office Depot (NYSE:ODP), OfficeMax (NYSE:OMX), Dell (NASDAQ:DELL), FedEx (NYSE:FDX), IBM (NYSE:IBM), Canon Inc. (NYSE:CAJ), Pitney Bowes Inc. (NYSE:PBI), Chyron Corporation (NASDAQ:CHYR), X-Rite, Incorporated (NASDAQ:XRIT), Hewlett-Packard Company (NYSE:HPQ), and Eastman Kodak Company (NYSE:EK).

Investing Insights: Will the iPad 3 Be the Next Catalyst for Apple’s Stock?

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

Get Your FREE Special Report: 4 Things You Must Know About the US Economy Now!