Xerox reports $15B in revenues for 2009

Document management and printing and production company Xerox reported fourth-quarter 2009 total revenues of $4.22 billion, down 3% year-over-year from 2008's $4.37 billion, on January 21. The company's full-year 2009 revenue was $15.18 billion, down 14% from $17.61 billion for all of 2008.

Xerox's full-year net income for 2009 was $485 million, up form the $230 million reported in 2008.

Xerox also disclosed acquisition-related costs of about $63 million for the fourth quarter for its pending acquisition of Affiliated Computer Services. The company also said it cut its worldwide employment by 3,500 jobs from year-end 2008.

Ursula Burns, CEO of Xerox, said in a statement that the company had a “strong close” to 2009 and that it “saw signs of improvement in several areas, including developing markets.”

“However, we believe revenue will continue to be under pressure until there is a more sustainable economic recovery,” she added.

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