Xerox 4Q Profit Falls
Jan 28, 2009
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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.

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