Xerox reports on last quarter’s earnings
- 4th quarter total revenue was down 21% to $1.93 billion
Operating income down 55.2% to $184 million - Net income was down 71.1% to $77 million
- Equipment revenue down 17.2% to $510 million
- Color A4 MFP installs down 22%
- B/w A4 MFP installs up 22%
- Color A3 MFP installs down 20%
- B/w A3 MFP installs down 16%
- Color PPS installs down 26%
- B/w PPS installs down 6%
- Post sales (service and supplies) revenue down 22.3% to $1.42 billion
- Services (MPS/FM) revenue down 17.9% to $715 million
- Gross margin down to 36.2%
- Research & development now 3.9% of revenue
- Total debt of $4.4 billion
- Admitted that it laid off 2,300 employees in 2020