The firm has also received 100 orders for the iGen3, including a mixture of European orders taken at Ipex and orders for the US, including some taken at On Demand earlier this week.

It has reported figures for the quarter according to its old accounting methods, despite being unable to provide full figures as it has to use new accounting practices that are approved by the SEC. These figures, adjusted 2001 results and restated figures for 1997-2000, will be submitted to the SEC at the end of June (PrintWeek, 19 April).

Xerox reported a net loss of 44m ($64m) on revenues of 2.6bn. Excluding restructuring and foreign currency losses, adjusted income would be 36.6m, significantly above analysts estimates. This compares to an adjusted net loss for the first quarter 2001 of 57.3m.

Shipments of its DocuColor high-end colour machines fell 22%, while DocuTech installations grew by 4%.

Story by Barney Cox