April 24, 2012 | last updated June 1, 2012 2:05 pm

Xerox's 1Q net income falls 4 percent

Xerox Corp. saw first-quarter net income fall 4 percent on flat revenues at the Norwalk imaging-equipment and business-services giant.

For three months ended March 31, Xerox netted $269 million, or 19 cents a fully diluted share, down from $281 million, or 20 cents a share, netted the same quarter last year.

First-quarter revenues were $5.5 billion vs. $5.47 billion a year ago.

Chairman and CEO Ursula Burns said growth in Xerox's business process outsourcing and document outsourcing lines is to the point that services are now more than half its total revenue and will remain its growth engine.

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