Xerox posts strong numbers

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Xerox Corporation in Norwalk closed 2008 with earnings up and in possession of 230 industry awards, 20 percent more than the previous year.

The company”™s full-year 2008 net income was $230 million, including a previously announced litigation charge. Excluding charges, adjusted net income was $985 million for the year. Total revenue was $17.6 billion, a 2 percent increase from full year 2007.

“In the fourth quarter, the continued weakening economy and rapid shift in exchange

rates put pressure on the business,” said Anne Mulcahy, chairman and CEO of Xerox. “Despite this challenging marketplace, we delivered $265 million in adjusted net income for the quarter and $985 million for the year.”

Mulcahy said Xerox products in this economy can help customers make it through.

Dastin said industry publications, independent testing and research firms around the world recognized Xerox office products and services for a range of attributes including image quality, performance and technical innovation.

The latest accolade came from Buyers Laboratory Inc., which in December awarded top honors to Xerox for outstanding color image quality and technical innovation.

“Much of what we do is aimed squarely at helping our customers reduce costs and operate more efficiently and effectively,” said Mulcahy. “Our services business continues to grow and we”™re prioritizing investments to build on this momentum in 2009.”

Of products, the Phaser multifunction printers were recognized by BLI as the fall season picks of the year. Xerox garnered a total of nine top-pick awards for products and software solutions during 2008.

The company also has been recognized for knowledge management, innovation, diversity, ethics, family-friendly policies, environmental programs and leadership.