21 March 2023
Xerox Sales Flat But Reduces Loss
ROCHESTER . NEW YORK—
Was hurt more than most industry supplier by the pandemic
Was hurt more than most industry supplier by the pandemic
 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.
The sudden death of CEO John Visent hurt Xerox
The sudden death of CEO John Visent hurt Xerox
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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