Xerox Corp. reported fourth-quarter total revenue of US$4.2 billion, which beat analyst expectations despite the fact this represents a 3-percent revenue drop relative to the fourth quarter of 2008.
Xerox’ profit in the fourth quarter of 2009 rose to US$180-million from US$1-million in the year-ago quarter. Total revenue for Xerox’ 2009 fiscal year came in at US$15.2 billion, down from US$17.6 billion in 2008.
“We delivered a strong close to a difficult year, with solid operational results that reflect our disciplined approach to generating cash and reducing costs,” said Ursula Burns, Xerox CEO. “During the fourth quarter, we saw signs of improvement in several areas including developing markets, and we remain quite confident in our strong global competitive position.
“However, we believe revenue will continue to be under pressure until there is a more sustainable economic recovery.”
On January 20, Xerox announced the acquisition of Irish Business Systems for around US$31 million. By acquiring Irish Business Systems, Xerox claims it has gained access to more than 11,000 new customers in Ireland, primarily focusing on the small- and mid-sized business market.