ROCHESTER, N.Y. -- Xerox released it first quarter earnings report this morning.
In the report the company says it remains on track to complete its transformation to separate into two independent companies by the end of the year.
The company announced in January that it will split into two separate companies, one on document technology and the other on business process outsourcing.
The company says the transformation is expected to save the two companies $2.4 billion over the next three years.
For the first quarter the company says total revenue of $4.3 billion was down four percent.
Earnings for the first quarter were $0.22 per share.