Xerox sees healthy profits in Q1

Xerox reported first-quarter net profit of $224m (€189.2m), compared to a loss of $65m (€54.9m) last year in the same period, boosted by an asset sale and reduced research and development costs.

Fri, 23 Apr, 2004 - 15:35

Xerox reported first-quarter net profit of $224m (€189.2m), compared to a loss of $65m (€54.9m) last year in the same period, boosted by an asset sale and reduced research and development costs.

Revenue rose 2% to $3.83bn (€3.23bn), just ahead of analyst forecasts, as strength in its digital businesses and the favourable effects of currency translation offset post-sale revenue declines from its older light lens technology.