14 Dec 2019

EFI reports positive results in Q4


Q4 marks company's return to profitability and cash generation, delivering $0.05 of non-GAAP EPS

Foster City, Calif. - Electronics For Imaging, Inc., a world leader in customer-focused digital printing innovation, today announced its results for the fourth quarter of 2009. For the quarter ended December 31, 2009, the Company reported revenues of $114.0 million, compared to fourth quarter 2008 revenue of $135.3 million.

GAAP net loss was $(3.4) million or $(0.07) per diluted share in the fourth quarter of 2009, compared to a GAAP net loss of $(104.5) million or $(2.03) per diluted share for the same period in 2008.

GAAP net loss was $(2.2) million or $(0.04) per diluted share for the twelve months ended December 31, 2009, compared to a GAAP net loss of $(113.4) million or $(2.16) per diluted share for the same period in 2008.

Non-GAAP net income was $2.3 million or $0.05 per diluted share in the fourth quarter of 2009, compared to non-GAAP net income of $6.7 million or $0.13 per diluted share for the same period in 2008.

Non-GAAP net loss was $(10.7) million or $(0.22) per diluted share for the twelve months ended December 31, 2009, compared to non-GAAP net income of $41.2 million or $0.74 per diluted share for the same period in 2008.

"Our results continue to show improvement as we delivered 13% sequential revenue growth driven by a strong rebound in our Fiery business posting 26% quarter over quarter growth. In addition, we delivered on our commitment to return to profitability and generate cash in the fourth quarter," said Guy Gecht, CEO of EFI. "As we look to 2010, we will be focused on profitable growth while continuing to provide the print industries' most innovative technology."

Xerox Reports Fourth-Quarter 09 Earnings

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Xerox Corporation announced today fourth-quarter 2009 results that include GAAP earnings per share of 20 cents, adjusted earnings per share of 25 cents and $967 million in operating cash flow. The adjusted EPS excludes a previously disclosed charge for acquisition-related costs of 5 cents per share.

"We delivered a strong close to a difficult year, with solid operational results that reflect our disciplined approach to generating cash and reducing costs," said Ursula Burns, Xerox chief executive officer.

"During the fourth quarter, we saw signs of improvement in several areas including developing markets, and we remain quite confident in our strong global competitive position," she added. "However, we believe revenue will continue to be under pressure until there is a more sustainable economic recovery. To help offset this challenge, we remain focused on cost and expense management and sizing our business to better match current revenue levels."

The company reported fourth-quarter total revenue of $4.2 billion, down 3 percent from fourth-quarter 2008 including a 4 point benefit from currency. Equipment sale revenue declined 11 percent or 15 percent in constant currency. Post-sale and financing revenue was flat, or declined 4 percent in constant currency.

"We're encouraged by improving trends in our post-sale revenue and continued strong signings for Xerox's managed print services that help our clients reduce their document costs," said Burns. "The increasing demand for services supports the benefits of our acquisition of Affiliated Computer Services. We're on track to close the acquisition next month. Once completed, Xerox will be the world leader in business process and document management."

Gross margin was 39.9 percent in the fourth quarter, an increase of two points from the prior year. Selling, administrative and general expenses were up year over year by $23 million driven by currency, and SAG as a percent of revenue was 26.7 percent in the fourth quarter.

The company's full-year 2009 net income was $485 million, including after-tax acquisition-related costs of $49 million. Total revenue was $15.2 billion, down from $17.6 billion in 2008.

Xerox generated $2.2 billion of operating cash flow in 2009, exceeding its full-year expectations by $500 million. Total debt was reduced by $1.1 billion in 2009, excluding the $2 billion of ACS-related notes issued last month. The company ended the year with a cash balance of $3.8 billion.

During the first quarter of 2010, Xerox expects to take a pre-tax restructuring charge of approximately $250 million to continue implementing its cost-reduction activities on a global basis. Including ACS results, Xerox expects full-year 2010 GAAP earnings in the range of 36 to 46 cents per share. Adjusted EPS is expected to be 75 to 85 cents per share, which excludes restructuring, adjustments related to the ACS acquisition and other discrete items.

Graphic Arts Association educates members on selling in tough times


Sales expert Linda Bishop trains industry professionals to rethink their selling strategy in 2010.

Linda Bishop, President of Thought Transformation, Inc. today trained members of the Graphic Arts Association (GAA) in a session entitled "Selling in Tough Times."  As the association strives to be the leading resource for the printing and graphic communications industry in many areas including education, Bishop, a sales expert and consultant, focused today's presentation on why salespeople should rethink their selling strategy in 2010 so that it more clearly reflects the buyer's evolving mindset.

Assuming the payoff is high, this year will be an opportunity for buyers to spend on projects they put off last year.  Bishop's presentation focuses on the buyer's mindset and what salespeople can do this year to not only meet, but exceed their sales goals.  Her presentation points to the fact that buyer's will take extra care in evaluating tradeoffs and usually avoid top-of-the-line options if there is a reasonable substitute available at a lesser price.

"2009 was a tough year, but I believe 2010 will be better in terms of economic indicators," said Bishop.  "It's important for salespeople to realize that if they want to outsell the competition, they need to freshen their message and approach so it aligns with the buyer's mental outlook."

Bishop, a top-performer in printing sales for 17 years, founded Thought Transformation to train and consult companies and sales professionals on how to sell more and reach their full potential. She talks to marketers regularly, and draws upon first-hand knowledge when presenting and training executives and salespeople nationwide.

Margaret Baumhauer, President of the GAA said, "We want our members to thrive and that requires new selling skills. One of the many membership benefits we offer is training. We encouraged all our members to take advantage of Linda Bishop's expertise and learn new ways to grow sales."

Agfa announces successful closing of recent Gandi Innovations and Insight Agents acquisitions


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Agfa has successfully finalised the recent acquisitions, announced in November 2009.

The Agfa Graphics business group acquired most of the assets of Gandi Innovations Holdings LLC's North American operations and the shares of its principal foreign subsidiaries. Gandi Innovations is a global leader in large format inkjet systems.

The Agfa HealthCare business group acquired Insight Agents GmbH., a European developer and producer of contrast media.


Xerox acquires Irish Business Systems

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Deal with Ireland's largest digital imaging and printing solutions company increases Xerox's European distribution

Norwalk, Conn. - Xerox Corporation today announced the acquisition of Irish Business Systems (IBS), for approximately $31 million, expanding its reach into the small and mid-sized business (SMB) market in Ireland. IBS, with eight offices located throughout Ireland, is a managed print services provider and the largest independent supplier of digital imaging and printing solutions in Ireland.

By acquiring Irish Business Systems, Xerox will increase its sales force and gain access to more than 11,000 new customers in Ireland. Over the last two years, Xerox has expanded its distribution to the SMB market and managed print services delivery capability through acquisitions and broadened relationships with resellers and concessionaires in Europe.

IBS will sell the full range of Xerox office and light production products and supplies, including all Phaser, WorkCentre and the ColorQube 9200 Series of multifunction printers that print, copy, fax and scan.

"With this acquisition, Xerox will increase its presence in all parts of Ireland," said Douraid Zaghouani, senior vice president, European Channels Group, Xerox Europe. "IBS is a strong office technology and managed print services provider in Ireland. Their extensive distribution and customer support complement the benefits of Xerox's technology and solutions."

IBS will operate as a wholly owned subsidiary of Xerox, will maintain its name and keep its headquarters in Cork, Republic of Ireland. Its management team and employees will continue to operate as part of IBS. The acquisition, Xerox's 8th in the past two years, is an all-cash transaction.

Xerox currently employs over 700 people in the Republic of Ireland and Northern Ireland, in Dublin, Belfast and Dundalk, who are engaged in manufacturing, technical support, finance and treasury and sales and marketing activities.

Canon aids earthquake relief efforts in Haiti

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On January 12, a powerful earthquake struck the Republic of Haiti, causing extensive destruction and loss of life. We at Canon extend our heartfelt condolences to all those affected by this disaster and our thoughts go out to those suffering in its aftermath.

While we realise that the road to recovery will be challenging and time-consuming, we hope that the region will soon be able to begin the rebuilding and healing process.

The Canon Group is contributing in the relief efforts for victims of the earthquake through donations to the Japanese Red Cross Society and other humanitarian aid organizations totaling 20 million yen (approximately GBP £140,000).