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Industry News – Xerox

Xerox reports last quarter’s earnings

  • Total revenue down 9.4% to $2.2 billion
    • Down 8.1% in the Americas
  • Hardware sales revenue down 10.2% to $448 million
    • Color A4 units up 10%
    • All PPS and A3 unit categories down
    • A4 b/w units down 2%
    • PPS color units down 14%
      • b/w units down 12%
    • Midrange color MFP units down 7%
      • b/w units down 19%
    • Mid range MFP sales down 9.6%
    • PPS sales down 3.3%
  • Post sales (service/supply) revenue down 9.2% to $1.758 billion
  • R&D now 4.2% of revenue
  • $4.8 billion in debt
  • $1.2 billion in unfunded pensions liabilities
  • Cut more than 400 employees
  • Leaving unfilled another 1,100 jobs that opened up as a result of employee attrition
  • Paid out $24 million in severance
  • Paid out $12 million to cancel existing real estate leases
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