The revenue drop was particularly noticeable in Brazil, a formerly booming market that accounted for about 8 percent of Xerox's total revenues last year.
The company's revenue drop of 10 percent, to $139.2 million, was caused by stores reducing inventories of tampons.
Bell Atlantic argued that the revenue drop was permanent.
Its chief painted a gloomy picture, citing revenue drops, but he said he was still optimistic that the airline could become viable.
Both firms have seen revenue drop in comparison with their competitors, according to the rankings in The American Lawyer magazine.
Drug companies are not interested in watching revenue drop.
The Finance Department predicts a revenue drop of $350 million in the coming year, the first decline in more than a decade of steady increases.
Speaking of the industry as a whole, Mr. Milton said, "the revenue drop in May was steep and without precedent."
Goodyear Tire gained 7/8 to close at 61 1/4, as the company posted solid earnings, with cost containments offsetting a slight revenue drop.
For the latest quarter, ended Sept. 30, the company reported last week a revenue drop and a profit decline, to $11,561, from $867,201 in the 1988 quarter.