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Industry News

Xerox reports on last quarter’s earnings

  • 4th quarter total revenue was down 21% to $1.93 billion
  • Operating income down 55.2% to $184 million
  • Net income was down 71.1% to $77 million
  • Equipment revenue down 17.2% to $510 million
    • Color A4 MFP installs down 22%
    • B/w A4 MFP installs up 22%
    • Color A3 MFP installs down 20%
    • B/w A3 MFP installs down 16%
    • Color PPS installs down 26%
    • B/w PPS installs down 6%
  • Post sales (service and supplies) revenue down 22.3% to $1.42 billion
  • Services (MPS/FM) revenue down 17.9% to $715 million
  • Gross margin down to 36.2%
  • Research & development now 3.9% of revenue
  • Total debt of $4.4 billion
  • Admitted that it laid off 2,300 employees in 2020
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