Xerox Corp.'s 4Q earnings fell to US$1 million for the three months ended Dec. 31, from year-ago profit of $382 million. Sales fell 10% to $4.37 billion from $4.88 billion a year ago. The decline was led by equipment sales, which dropped 15%. Revenue in developing markets, which had jumped 17% through the 3Q 2008, fell 14% in the fourth quarter.
Xerox announced last year that it would cut 3000 jobs, a move the company said will save $200 million annually.
to Daily News