Xerox''s revenue drop with smaller sales of printers

Xerox had 4.2% fall in quarterly revenue, hit by the appreciation of the dollar and lower sales of printers and copiers.
The company is focusing on business services, since sales of printers and copiers — its main source of revenue for more than half a century — have fallen for more than four years.
The rival Lexmark reported last week that accepted agreement to close capital in Chinese-led operation Apex Technology and PAG Asia Capital, in a deal valued at $ 3.6 billion.
Xerox reported revenue of document Technology Division, which includes printers and copiers, fell 10 percent to $ 1.6 billion in the quarter.
The company announced in February that it will split into two companies, one holding printers and other operations the unit of business process outsourcing.
The net profit attributable to the company retreated to $ 34 million, or $ 0.03 per share, in the first quarter ended March 31, up from $ 225 million, or $ 0.19 per dollar paper, a year earlier. Revenue fell to $ 4.47 billion to US $ 4.28 billion.
Analysts, on average, expected profit of $ 0.23 per share and revenue of $ 4.24 billion, according to Thomson Reuters.