Xerox reports sales decline

Xerox reports sales decline
- for 3rd quarter, reported total revenue down 6.5% to $2.2 billion
o equipment hardware sales down 3.3% to $494 million
 A4 b/w MFPs down 6%
 A4 color MFPs up 10%
 Midrange b/w MFPs down 20%
 Midrange color MFPs up 2%
 High end b/w MFPs down 22%
 High end color MFPs up 12%
o post sales revenue down 7.3% to $1.706 billion
o Americas revenue down 3.6% to $1.487 billion
- gross margin down 10 basis points to 40%
- operating margin of 12.1%
- Total debt = $4.8 billion
o $1.2 billion of unfunded pension debt