Xerox Corp., Norwalk, Conn., report fourth-quarter revenueof $6 billion was flat; revenue from the company’s services business was up 6 percent, and revenue from its technology business was down 5 percent. Growth in services was driven by an 8 percent increase in both business process outsourcing and document outsourcing. For the full year, Xerox net income was $1.3 billion, adjusted net income of $1.6 billion, was up 21 percent, and total revenue of $22.6 billion, up 5 percent.
“Our performance reflects Xerox’s operational discipline in delivering strong bottom-line results while scaling our services business and maintaining our leadership in document technology,” says Ursula Burns, chairman and CEO, Xerox. “While operating in a challenging economic environment, we’ve grown our global market share for equipment revenue, further strengthening our industry leadership. Installs of Xerox equipment increased 8 percent in the fourth quarter. And, our managed print services are proving not only to be the industry standard but also an engine of growth for our business.”.
“Signings for our diverse services offerings were up 15 percent in the fourth quarter,” she adds. “Our services portfolio remains a competitive advantage — providing clients cost-efficient ways to run more productive enterprises and benefiting our business for the long term through a healthy base of recurring revenue.”