Xerox Corporation XRX reported disappointing fourth-quarter 2018 results, missing the Zacks Consensus Estimate on both counts.Adjusted earnings per share of $1.14 missed the consensus mark by 2 cents but increased 11 cents from the year-ago quarter’s tally. Total revenues of $2.53 billion missed the consensus mark by $99 million. The top line fell 7.8% year over year on a reported basis and 6.1% on a constant-currency basis.Shares of Xerox have declined 26% in the past year compared with the industry’s 1.4% decline.Let’s check out the numbers in detail.Revenues by SegmentEquipment sales totaled $629 million, which declined 9.5% year over year on a reported basis and 7.7% on a constant-currency (cc) basis. The segment contributed 25% to total revenues.Post sale revenues of $1.90 billion declined 7.2% year over year on a reported basis and 5.5% at cc. The segment contributed 75% to total revenues.Revenues by RegionRevenues from North America came in at $1.52 billion, down 5.2% year over year on a reported basis and 4.9% at cc. The region contributed 60% to total revenues.International revenues amounted to $929 million, down 7.2% year over year on a reported basis and 3.2% at cc. The region contributed 37% to total revenues.Revenues from Other region totaled $87 million, down 40% year over year on a reported basis as well as at cc. The region contributed 3% to total revenues.Xerox Corporation Revenue (TTM) Xerox Corporation Revenue (TTM) | Xerox Corporation Quote Operating ResultsGross profit of $1.01 billion fell 8.5% from the prior-year quarter’s figure. Total gross margin of 40% declined 30 basis points (bps) year over year.While equipment gross margin surged 532 bps on a year-over-year basis to 33.1%, post sale gross margin contracted 230 bps to 42.3%.Adjusted operating profit of $409 million was up 4.3% year over year. Adjusted operating margin improved 180 bps year over year to 16.1%.Selling, administrative and general expenses, as a percentage of revenues, declined to 21.9% from 23.2% in the year-ago quarter.Research, development and engineering expenses, as a percentage of revenues, declined to 3.7% from 3.9% in the prior-year quarter.Balance Sheet and Cash FlowXerox exited the fourth quarter with cash, cash equivalents and restricted cash balance of $1.15 billion compared with $1.22 billion at the end of the previous quarter. Long-term debt was $4.27 billion compared with $4.82 billion in the preceding quarter. The company generated $415 million of cash from operating activities in the reported quarter.Xerox returned $969 million to shareholders through share repurchase and dividends in 2018.2019 GuidanceXerox expects adjusted earnings between $3.70 and $3.80 per share, higher than the Zacks Consensus Estimate of $3.66. Revenues are expected to decline roughly 5% at cc.The company expects operating cash flow in the range of $1.15-$1.25 billion and free cash flow in the range of $1.0-$1.1 billion.Adjusted operating margin is anticipated between 12.6% and 13.1%, an expansion of 100-150 bps year over year.Zacks Rank & Upcoming ReleasesXerox currently carries a Zacks Rank #3 (Hold).A few better-ranked stocks in the broader Business Services sector are General Finance Corporation GFN, Omnicom Group Inc OMC and Paychex, Inc PAYX, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The long-term expected EPS (three to five years) growth rate for General Finance, Omnicom and Paychex is 11%, 6.9% and 8.8%, respectively.Wall Street’s Next AmazonZacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.Click for details >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Omnicom Group Inc. (OMC): Free Stock Analysis Report General Finance Corporation (GFN): Get Free Report Xerox Corporation (XRX): Free Stock Analysis Report Paychex, Inc. (PAYX): Get Free Report To read this article on Zacks.com click here.