Xerox acknowledges income irregularities

Xerox acknowledges income irregularities

Xerox said last week that it will have to restate its earnings for 1997 to 2001 due to accounting irregularities. The move will reduce the company's pre-tax income for that period by $US1.4 billion. As a result of the restatement, 1997 to 2001 revenue has been reduced by 2 per cent to $91 billion, the Stamford, Conneticutt-based company said.

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