Xerox Corp’s second-quarter profit was nearly wiped out by a restructuring charge related to a revamp of its government healthcare business.

Xerox reported net income attributable to the company of $12 million, or 1 cent per share, for the quarter ended June 30, down from $266 million, or 22 cents per share, a year earlier.

The company recorded net restructuring and asset impairment charges of $157 million.

Total revenue fell 7 percent to $4.59 billion.

(Reporting by Devika Krishna Kumar in Bengaluru; Editing by Saumyadeb Chakrabarty)

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