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21 March 2023
Xerox Sales Flat But Reduces Loss
ROCHESTER . NEW YORK—
The Xerox group reported 2022 sales up 1% at $7.1 billion. For the full year, gross margins slipped from 34.1% to 32.6%, but pre-tax loss reduced by $100 million, to $328 million. High-end colour device installs were effectively flat, up 1%. B&W high-end was down 8%. Xerox turned in a strong sales performance in Q4, with revenues up 9.2% at $1.9 billion.
Xerox said that supply chain conditions had improved somewhat, but still remained volatile. It expects conditions to “normalise” by the end of June. At its Print & Managed Print Services business, contractual print revenue grew “modestly” including the July 2022 acquisition of Go Inspire Group. Xerox says it expects growth in profitability and returns in 2023.
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