Xerox Releases First Financial Result Following Separation

Xerox has released its fourth quarter result as continued business after split with growth on high-end color system. According to the result, the company has delivered $2.7 billion of total revenue in 4Q2016, 7% lower year-on-year.

The sales revenue of its equipment business within Document Technology segment has seen a 15% decrease compared to the same quarter in 2015. Xerox explains that the decline was driven by lower entry and mid-range sales, as well as lower revenue from its high-end products. It also claims the decline partially reflects an unfavorable mix and lower sales to its partner Fuji Xerox.

Xerox Names New Executive in Canada
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Among them, the sales revenue of its entry-level products which includes A4 devices and desktop printers has declined 8% in color MFDs and 19% on monochrome MFDs. The high-end color systems, however, has seen a 3% increase.

New CEO for Xerox PARC
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The OEM has completed the split of its businesses on December 31, 2016, after which its Document Technology and Document Outsourcing business stays within Xerox, while the Business Process Outsourcing business becomes an independent company, Conduent Incorporated.

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