Office equipment maker Xerox posted a third-quarter loss of $211 million and a 13 per cent decline in revenue, citing a weak economy and the effects of the September 11th attacks.
Revenue for the quarter was $3.9 billion, down from $4.5 billion in the same period last year.
"Xerox was prepared for significant challenges in the third quarter due to weakened economies," Ms Anne Mulcahy, Xerox president and chief executive, said today.
"However, the dramatic economic downturn since the events of September 11th resulted in an unprecedented loss in September, driven by disproportionate revenue decreases during the last two weeks of the month".
The printer and copier firm has been struggling to return to profitability by carrying out a turnaround plan over the past year that includes reducing close to 11,000 positions worldwide through early retirement, voluntary leave, attrition and layoffs.
Xerox has about 2,000 employees in Dundalk and 1,000 at its call centre and European support operation at Blanchardstown in Dublin. It has invested over £300 million in its Dundalk operations and received £31 million in IDA grants.
In June Xerox said 360 jobs would be lost at its Dundalk inkjet printer factory as it abandoned its small office/ home office equipment business, which accounted for 3 per cent of revenues but was draining profits.
For the first nine months of the year, Xerox posted a net loss of $289 million, or 43 cents per share, on revenue of $12.2 billion, compared with a loss of $237 million, or 39 cents per share, on revenue of $13.8 billion in the same period last year.