) has penned an agreement with Schneider Electric for modernizing
the latter's IT infrastructure. The contract awarded to Xerox is
worth $153 million and is slated to run for a period of 7 years.
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Under the agreement, Xerox will upgrade the IT infrastructure
operations in North America by consolidating the data centers of
Schneider in a cost-effective manner. These data centers will be
managed with state-of-the-art automated processes, which will act
according to the fluctuating market conditions of the energy
Xerox will also manage the help desk for Schneider employees where
daily issues regarding their computers are addressed. In addition,
the help desk support the remote employees who use mobile devices.
Xerox will not only support the company to improve the IT
infrastructure but will also assist it to become consolidated,
centralized and more virtual. The sustainable IT platform will make
Schneider more agile and productive. The company will also be able
to focus on emerging energy trends with the latest technologies.
Xerox, in the second quarter of 2012, reported adjusted earnings
(excluding special items) of 26 cents per share, in line with the
Zacks Consensus Estimate but lower than 27 cents registered in the
prior year quarter. Revenues declined 1% (up 1% in constant
currency) year over year to $5.54 billion, missing the Zacks
Consensus Estimate of $5.58 billion.
Headquartered in Norwalk, Connecticut, Xerox Corporation is a
leader in the development, manufacture, marketing, servicing and
financing of document equipment across the world. Xerox, which
), maintains a Zacks #3 Rank, which translates into a short-term (1
to 3 months) Hold rating. Currently, we have a long-term Neutral
recommendation on the stock.