The Xerox 914, shown here in this September 1959 ad, was a revolutionary product.
(Reuters) – Printer and copier maker Xerox
Corp reported a quarterly loss on Wednesday as tumbling demand for office printing took a toll on its results.
The company reported a net loss from continuing operations of $196 million, or 78 cents per share, in the quarter ended Dec. 31, compared with a profit of $185 million, or 70 cents per share, a year earlier.
Total revenue was nearly flat at $2.75 billion.
Japan’s Fujifilm Holdings is set to take over Xerox
, and combine the U.S. company into their joint venture Fuji Xerox
in an effort to cut costs, the companies said in a separate statement.
Billionaire investors Carl Icahn and Darwin Deason, who collectively hold cheap ray bans nz over 15 percent of Xerox
, had jointly persuaded the photocopier pioneer to explore strategic options, oust its “old guard,” including its CEO Jeff Jacobson.
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