ROUNDUP : Document Processing Strength Hikes Xerox’s Quarterly Profit
From Times Staff and Wire Reports
The Stamford, Conn., company reported that its fourth-quarter earnings rose 11% to $235 million, largely because of strength in its document-processing operation. Revenue was up 10% to $5 billion. The company’s yearly earnings plunged 65% to $243 million, principally because of a $375-million charge related to discontinuing its VMS Realty Partners unit. Annual revenue at Xerox, which also has substantial insurance and financial services operations, was up 4% to $18 billion.
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