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Xerox Corporation () is a document management company, which manufactures and sells a range of color and black-and-white printers, multifunction systems, photo copiers, digital production printing presses, and related consulting services and supplies. Xerox is headquartered in Stamford, Connecticut, though its largest population of employees is based in and around Rochester, New York, the area in which the company was founded. The UK headquarters are situated in Welwyn Garden City, in Hertfordshire.
History
Xerox was founded in 1906 as "The Haloid Company" manufacturing photographic paper and equipment. The company came to prominence in 1959 with the introduction of the first plain paper photocopier using the process of xerography (electrophotography) developed by Chester Carlson, the Xerox 914. The company subsequently changed its name to "Haloid Xerox" in 1958. The 914 was so popular that by the end of 1961, Xerox had almost $60 million in revenue. By 1965, revenues leaped to over $500 million. Before releasing the 914, Xerox had also introduced the first xerographic printer, the "Copyflo" in 1955.
More on [ Xerox ]
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The Talk of the Town
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Accounting Panic Hits Xerox - Xerox admits overstating its profits by $1.4bn from 1997 to 2001, casting a fresh shadow over US corporate and auditing practices. [BBC News]
Meta Description: [ Xerox adds fuel to fears about US corporate probity after admitting that it mislabelled more than $6bn in sales between 1997 and 2001. ]
Xerox - A Carbon Copy Accounting Scandal - CNN is reporting that Xerox incorrectly booked close to $6 billion in revenue over the past five years. News and reader discussion. [Plastic]
Xerox Documents Accounting Woes - Xerox Corp. improperly booked nearly $2 billion in revenue over the past five years, the company said Friday, as the copier maker was forced to restate earnings to reflect $1.4 billion less in pre-tax profits during the period. [CNN Money]
Meta Description: [ Xerox Corp. improperly booked nearly $2 billion in revenue over the past five years, the company said Friday, as the copier maker was forced to restate earnings to reflect $1.4 billion less in pre-tax profits during the period. ]
Xerox Hit by Fresh Scandal - The company, whose name is synonymous with photocopiers, has already been fined $10m this year by the US financial watchdog, the securities and exchange commission, for overstating profits by $3bn between 1997 and 2001. By Mark Tran. [Guardian]
Xerox in $2bn Scandal - Dollar plunges as firm admits exaggerating revenues. By Nils Pratley and Jill Treanor. [Guardian]
Meta Description: [ Dollar plunges as firm admits exaggerating revenues. ]
Xerox Settles SEC Enforcement Action Charging Company With Fraud - Press release. The Securities and Exchange Commission today filed suit against Xerox Corporation in connection with a wide-ranging, four-year scheme to defraud investors.
| Xerox unveiled the company's new brand to its 57000 employees and the world at large. The most significant change to the ... | |
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