23 Sep 2019

Acquisition of Print Trader by LFR will bring online auctions to the wide-format industry


Print Trader

As a leading online resource for news within the wide-format printing industry, Large Format Review (LFR) is delighted to announce it has acquired Print Trader, the Internet based facility for buying and selling equipment. The integration of these two complementary areas will make it quicker and easier for vendors and purchasers to locate machinery, supplies and peripherals from a central location.

As part of the redevelopment of Print Trader, the ethos will be changed from being a location for classified advertisements offering machines for sale. Instead it will become an active online auction site with interactive bids and buy-it-now options making it straightforward for users to participate, sell and purchase items of all types and values.

With the recession now officially being in the past, growing numbers of companies are now looking to upgrade and trade-in their existing equipment. This can now be achieved independently without reliance on manufacturers and original suppliers.

Similarly, many printing machines have now been outgrown by their original purchasers, have plenty of years of service still remaining in them but are not suitable or eligible for part-exchange. Complementing this, there are businesses who want to augment existing technologies and who will welcome the opportunity of being able to purchase second-user systems independent of the original manufacturer.

Undergoing redevelopment now, the new look LFR Print Trader will be re-launched in the Autumn, and will be instantly accessible from within the news pages of LFR.

With its efficient and speedy reporting on news and trends within the wide-format industry, LFR has grown to become a reliable and respected source for all information relating to technologies and associated manufacturers, suppliers and end users. The addition of a comprehensive auction facility, LFR Print Trader, is expected to raise the numbers of visitors to the host site and add value to those who support it and rely on it as a regular resource.



Xerox reports Q2 earnings; increases full-year guidance

Xerox Logo

Xerox Corporation announced today second-quarter 2010 results that include adjusted earnings per share of 24 cents and $678 million in operating cash flow. Adjusted EPS excludes 8 cents from restructuring charges and amortization of intangibles as well as acquisition-related and litigation costs, resulting in GAAP EPS of 16 cents.

"Our second-quarter results reflect strong across-the-board performance in driving revenue growth, generating cash and expanding earnings," said Ursula Burns, Xerox chairman and chief executive officer. "Through the first half of the year, we've made excellent progress in scaling our services business and strengthening our leadership in the marketplace. We expect this progress will continue, positioning us well to increase our earnings expectations for the full year."

Second-quarter revenue of $5.5 billion was up 48 percent including a 1 point negative impact from currency. On a pro-forma basis, with ACS in the company's 2009 results, total revenue grew 2 percent or 3 percent in constant currency. Revenue from technology, which represents the sale of document systems as well as the supplies, technical service and financing of products, was up 3 percent or 4 percent in constant currency. Total install activity for Xerox equipment was up 45 percent, reflecting strong demand across all segments including a 56 percent increase in entry-level printers and multifunction devices. Revenue from services was up 1 percent on a pro-forma basis, and represents the company's business process, IT and document outsourcing offerings.

"We're seeing consistent trends that indicate the benefit of our broad product line and expanded services as well as modest economic improvements," added Burns. "Demand continues to improve for Xerox technology, especially in developing markets and from small and mid-sized businesses. With annuity revenue representing 83 percent of total revenue and signings for Xerox services up 12 percent, our business is strengthened by multi-year contracts for business process and document management."

In February, Xerox closed on its acquisition of business process and IT outsourcing firm, Affiliated Computer Services (ACS). The resulting joint sales activities between Xerox and ACS as well as increased interest in the company's diverse portfolio of outsourcing offerings led to a significant second-quarter increase in the pipeline for services contracts.

Second-quarter gross margin was 34.8 percent, and selling, administrative and general expenses were 21.1 percent of revenue. On a pro-forma basis, operating margin of 10.1 percent was up nearly one point, driven by improvements in both gross margin and SAG as a percent of revenue.

The $678 million in second-quarter operating cash flow contributed to $1.1 billion in cash flow for the first half of the year. The company reiterated its expectations to deliver $2.6 billion in operating cash for the full year.

For the third quarter, Xerox expects GAAP earnings in the range of 14 to 16 cents per share. Third-quarter adjusted EPS is expected to be 19 to 21 cents per share. Full-year GAAP earnings are expected to be 47 to 51 cents per share. Full-year adjusted EPS is expected to be 88 to 92 cents, an increase from the company's previous guidance of 75 to 85 cents per share.


EFI reports increased revenue in Q2 2010


Electronics For Imaging, Inc., a world leader in customer-focused digital printing innovation, today announced its results for the second quarter of 2010. For the quarter ended June 30, 2010, the Company reported revenues of $119.1 million, compared to second quarter 2009 revenue of $90.1 million.

GAAP net loss was $(2.5) million or $(0.06) per diluted share in the second quarter of 2010, compared to GAAP net loss of $(13.3) million or $(0.27) per diluted share for the same period in 2009.

GAAP net loss was $(13.9) million or $(0.31) per diluted share for the six months ended June 30, 2010, compared to GAAP net income of $13.4 million or $0.26 per diluted share for the same period in 2009.

Non-GAAP net income was $4.0 million or $0.09 per diluted share in the second quarter of 2010, compared to non-GAAP net loss of $(6.1) million or $(0.12) per diluted share for the same period in 2009.

Non-GAAP net income was $3.9 million or $0.08 per diluted share for the six months ended June 30, 2010, compared to non-GAAP net loss of $(10.5) million or $(0.21) per diluted share for the same period in 2009.

"EFI posted a solid performance in Q2, with sequential revenue growth in all three of our businesses and greater than 30% year-over-year revenue growth in our Fiery and Inkjet segments, allowing us to exceed both our revenue and earnings outlook," said Guy Gecht, CEO of EFI. "We are also pleased with the progress we made on operating profit and cash flow and we look for these positive trends to continue in the current quarter."


HP secures applications services contract with 3M


Hp 3m

HP Enterprise Services today announced that 3M, which produces thousands of innovative products for dozens of diverse markets, has signed a multimillion dollar, three-year applications services agreement to help improve productivity, enabling the company to get innovative products into the market more quickly.

Under the agreement, HP will develop and manage a large portion of 3M's applications portfolio, including mission-critical software used in engineering, demand planning, sourcing, manufacturing, human resources and finance. As a result, 3M expects to derive more business value from its legacy applications and boost its competitive advantage by optimizing the costs associated with its applications portfolio.

"Our mission-critical applications are key to achieving 3M's strategic objectives of increasing production capacity, expanding global capabilities and containing costs – all vital to our business success," said Janel Haider, director of Applications COE, 3M. "With HP applying its proven capabilities as our applications services partner, we will have the ability to more efficiently and cost-effectively scale production up and down based on dynamic global market demands."

A research and development leader, 3M will benefit from the best practices and processes HP uses in its Enterprise Application Solutions for Oracle, applications development and management services. These services enable companies to improve decision making and enhance service-level predictability. Additionally, HP's applications testing and quality assurance services can help 3M avoid defects, reduce rework and lower the cost of delivering high-quality applications.

Day-to-day operational support from HP Best Shore global delivery centers will provide consistent, flexible and scalable service delivery based on standardized processes to more cost-effectively support the 3M business.

"Technology solutions help global manufacturers deliver products to consumers around the world as quickly and cost-effectively as possible," said Darl Davidson, vice president, U.S. Manufacturing Industry Group, HP Enterprise Services. "HP's proven applications and manufacturing industry expertise will help 3M adapt to changing business needs and invest in innovation for future growth."

HP currently provides products and services for 3M in support of its infrastructure, printing, personal computers, data center hardware and software.


Agfa Graphics acquires The Pitman Company


Agfa Logo

Agfa Graphics announced that it has signed an agreement to purchase the assets of the Harold M. Pitman Company, a leading US supplier of prepress, industrial inkjet, pressroom and packaging printing products and systems.

The Pitman Company acquisition substantially increases Agfa Graphics’ revenue in the US to more than $500 million. The incremental EBIT contribution is expected to be well in line with Agfa Graphics’ global 7 percent target. After the closing, Agfa expects further growth of its US top line resulting from the combination of expertise available in both companies. Agfa also expects strong synergies to be delivered from the consolidation of sales forces and the reduction of G&A expenses.

Based in Totowa, New Jersey, the Pitman Company counts 502 employees and 16 locations throughout the USA. The acquisition will enable Agfa Graphics to significantly strengthen its position in the US printing industry. Pitman's large customer base and knowledge of the industry will offer immediate and unique growth opportunities for Agfa Graphics' industrial inkjet and prepress solutions. Agfa Graphics' addressable market will increase substantially, thanks to the addition of numerous product lines to its offering, including flexographic printing plate solutions for the packaging industry, pressroom products and value added services. Moreover, Agfa Graphics will be able to complement its own developed industrial inkjet offering with the addition of a vast range of media, new inks and wide format printing systems.

"Pitman's strong distribution network and broad portfolio of products and systems, combined with our leading technology, will provide us with promising growth opportunities in this strategically important region. One glance at Pitman's extensive catalog is enough to understand that we will considerably expand our scope," said Stefaan Vanhooren, Agfa Graphics' president. "One of the main drivers behind this decision was the fact that we gain a unique opportunity to significantly grow our inkjet business."

Pitman's Chairman of the Board, Paul (Peter) F. Schmidt, Jr., stated "Our family built the Pitman Company into an industry leading graphic solutions provider and for over 50 years we have been strategic partners with Agfa. I feel very confident about this new chapter in the history of the Pitman Company and I know that it is the combined force of Pitman and Agfa that will drive this company to the next level by providing present and future customers a greater value package of goods and services."


Screen USA hits milestone


Screen Logo

It is no accident that Screen drop-on-demand inkjet technology is transforming the digital printing industry.

With its rich history of innovation and precision manufacturing, Dainippon Screen, the parent company of Screen (USA), has played a transformative role in graphic communications for the past 67 years. From glass screens in the early 1940s to process cameras in the 1960s to color scanners in the 1970s, Screen has built a tremendous portfolio of technological advances.

Screen's record of accomplishment has continued uninterrupted into the second decade of the 21st century. Notably, sales of Screen-manufactured computer-to-plate recorders have exceeded 15,000 units since 1995.

Screen recently marked another important milestone with its variable inkjet web printing system. Between 2007 and March 2010, Screen and its partner, InfoPrint Solutions Company, sold and installed more than 200 Screen Truepress Jet520 and IPS InfoPrint 5000 continuous-feed color inkjet presses worldwide.

Introduced in 2005, the Truepress Jet520 immediately gained a reputation as an impressive on-demand printer capable of handling diverse applications. Featuring an output speed of over 110,000 (variable) 8.5 x 11-inch pages per hour, the Truepress Jet520 is designed for high-volume production of books, newspapers direct mail and transactional printing.

Screen collaborated with Seiko Epson Corp. on both the piezo drop-on-demand inkjet print heads and ink. This combination brings outstanding results on a wide range of uncoated and inkjet treated stocks, as well as the emerging class of matte and gloss coated stock.

InfoPrint Solutions, after an in-depth review of all inkjet technologies available or in development, selected the highly reliable Screen inkjet technology as the best balance to address customers' high-speed production requirements. Today, the Truepress Jet520 and InfoPrint 5000 are used in a broad variety of applications, including account statements, books and newspapers.

"Color variable print output allows production efficiencies for faster turnaround at a lower production cost by utilizing the variable print capabilities in conjunction with inline finishing," said Bill Brunone, Screen's vice president for targeted inkjet systems. "For example, calculate the time and money it would take in a shop to make plates, print signatures and cut, collate and trim pages to produce finished book blocks. Now imagine a world in which one operator can output two 500-page trimmed book blocks every two minutes with the touch of one touch screen. Screen and InfoPrint customers have discovered such a world and without sacrificing litho quality."

Take Flagship Press, Inc. in North Andover, Mass. Flagship, an early adopter of the Truepress Jet520, services publishers in the educational and high-tech markets.

Christopher Poor, vice president, recalled the process that led Flagship to install the Screen system: "When we began researching inkjet technology, our first reaction was, 'Will the printing be of commercially acceptable quality?' We are extremely impressed by Screen's inkjet technology in terms of speed, quality and reliability. The Truepress Jet520 offers faster printing speeds and the capacity to produce significantly higher volumes at a lower cost. We are finishing jobs in one-quarter of the time compared with our existing digital color output engine."