Affiliated Computer Services

Xerox (NYSE:XRX) revealed a 12% decline in third-quarter profit and disappointing revenue on Tuesday as equipment sales slid, and it warned of a possible $100 million restructuring charge in the current quarter.  The company, which is best known for its copiers but has been shifting to business services amid softening equipment and supplies sales, posted net income for the three months ended Sept. 30 of $282 million, or 21 cents a share, compared with a year-earlier $320 million, or 22 cents.Excluding one-time items, Xerox said it earned 25 cents, matching average analyst estimates in a Thomson Reuters poll."Our third-quarter performance aligns with shifts in our business as services become a larger proportion of our revenue, and reflects the dynamics of a challenging economy that is creating cost pressures for large enterprises and governments," Xerox CEO Ursula Burns said in a statement. "Steady growth in services is consistent with our strategy."Xerox jumped into the world of servic...

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