Xerox turnaround from US$140 million loss

Xerox Corp yesterday reported a fourth-quarter profit of US$19 million ($34.6 million), in contrast to a loss of US$140 million a year earlier.

Revenue for the three months ended December 31 was US$4.25 billion, down 3 per cent from US$4.38 billion in the quarter a year ago.

For all of last year, Xerox earned US$91 million, in contrast to a loss of US$94 million in 2001.