Xerox’s revenue falls on lower printer sales

Xerox reported a 4.2 per cent fall in quarterly revenue, hurt by a strong dollar and lower sales of printers and copiers, sending its shares down 12 per cent in morning US trade.

The company is focusing on its services business, which offers business process outsourcing and document outsourcing, as sales of printers and copiers, its mainstay for over half a century, have fallen for more than four years.

Xerox said revenue from its document technology business, which includes sales of printers and copiers, fell 10 per cent to $1.6 billion.

The company said in February it would split into two companies, one holding its legacy printer operations and the other its business process outsourcing unit. The split is to take effect by the end of this year.

Revenue fell to $4.28 billion from $4.47 billion. – (Reuters)