For much of the printer industry, the financial downturn has meant profits flatter than a pancake. Yet the announcement of Q4 revenues by Xerox sees the ink cartridge manufacturer with a negligible 3% dip in revenues, compared to 2009.CEO Ursula Burns announced Fourth Quarter total revenues of $4.2b in a recent presentation – and declared that the acquisition of BPO (business process outsourcing) company ACS would make Xerox ‘the world leader in business process and document management.’
Xerox recently received its fourth consecutive award for Excellence in Technology Service and Support from prestigious global marketing information firm J.D. Power & Associates. Citing ‘An Outstanding Customer Experience,’ the award will prove useful to Xerox’s credentials as a managed print services provider.
This is especially the case because sales of both black and white & colour equipment fell 11% in the Fourth Quarter, owing to a non-existent demand for printers.
Xerox paid $6.4 billion for ACS – in the ink cartridge brand’s largest ever market acquisition.
Yet Burns also announced that Xerox is cutting 5% of its workforce loose – a total of 2500 staff. The cuts derive from Burns’ strategy of “cost and expense management” while the economic recovery is ongoing, and also include a £250m restructuring charge.
"We delivered a strong close to a difficult year, with solid operational results that reflect our disciplined approach to generating cash and reducing costs," Burns said.
"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."
0 comments:
Post a Comment