Xerox revenues rise in last quarter

Xerox posted a 42% rise in revenue for the final three months of 2010 to about $6 billion (£3.77 billion).

The company saw the hike in revenue despite a 5% year-on-year decrease in earnings to $171 million (£107 million).

Restructuring expenses are largely blamed for the fall in earnings during the period.

Also following the acquisition of outsourcing firm Affiliated Computer Services (ACS), Xerox announced plans to lay off around 5,000 employees.

The jump in revenue is mainly attributed to the $6 billion (£3.77 billion) agreement with ACS.

The company is hoping to adjust earnings of 20 to 22 cents per share for the first three months of 2011, while for the full year, it expects adjusted earnings per share of $1.05 to $1.10.

Xerox's full-year earnings reached $606 million (£381 million), up 25% compared with that recorded in 2009.

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