Business appliance maker Xerox Corporation announced total revenue in the fourth quarter of 2004 was U.S. $4.3 billion, up 1 percent from the same period in 2003.
Fourth-quarter revenue from Xerox's targeted growth areas -- office digital, production digital, and value-added services -- grew 5 percent year-over-year and represents about 76 percent of the company's revenue.
Total revenue from Xerox's office business was flat with equipment sales down 1 percent in the fourth quarter largely due to product mix; the company sold a greater proportion of lower-priced desktop units compared to the fourth quarter of 2003.
However, install activity was strong with office color multifunction systems up 17 percent and office color printing installs up 135 percent driven by laser and solid ink printers. Installs of office monochrome products were up 6 percent reflecting strong placements of Xerox WorkCentre® desktop multifunction systems.
For the full 2004 year, the company reported net income of $859 million and total revenue of $15.7 billion
For the first quarter of 2005, the company said it expects earnings in the range of $0.17 to $0.20 cents per share.
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