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 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 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."
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."
FUJIFILM North America Corporation today was recognized by the International Imaging Industry Association (I3A) for demonstrating the highest levels of safety performance and leadership. The not-for-profit I3A represents nearly all leading and emerging imaging companies and is the largest imaging industry group worldwide. Fujifilm won four Safety Excellence Awards and three Best in Class Awards from I3A in recognition of the safety performance at its Hanover Park, IL; Irving, TX; Rochester, NY, and Greenwood, SC facilities.
"We are honored by these awards," said Ryutaro Hosoda, president and CEO, FUJIFILM North America Corporation. "A critical element of our efforts to build sustainable businesses involves the education, training and safety of Fujifilm employees. The safety record at these facilities, as recognized by I3A with these awards, is important validation of our efforts."
I3A's Safety Excellence Award criteria considers the lowest recordable days away from work incidence rate as well as a low overall recordable incidence rate with the most hours worked during a calendar year. Award recipients are recognized as being best in their class among I3A member companies. Fujifilm's warehouse, sales and service, R&D and photo services facilities were acknowledged with Safety Excellence Awards, and the company's South Carolina photo services operation, Texas sales & service facility, and Illinois warehouse won three of the five Best in Class Awards.
Awards will be presented at the International Imaging Industry Association's 64th Annual Conference in San Jose, CA in November, 2010.
EskoArtwork has signed an agreement with the China-Singapore Suzhou Industrial Park (SIP) to set up a Software Development Center in the SIP. The official signing of the agreement was well attended by a large number of EskoArtwork’s Chinese customers during the User Club Day at the Belgian Pavilion at the World Expo 2010 in Shanghai.
"China is an economic powerhouse that emerged from the worldwide financial crisis almost unscathed. It is no longer just a "factory of the world" but evolved to a large, rapidly growing and attractive local market. This represents a great opportunity for EskoArtwork and its customers," says Carsten Knudsen, EskoArtwork’s President & CEO. "To do business in China, it’s important to deliver products that meet the needs of the local market. The Development Center’s first focus will be to develop software that helps Chinese customers improve efficiency and quality, which will lead to improved satisfaction among their customers."
Carsten continues: "Since many years, EskoArtwork holds a strong position in China in the higher end of the market, which produces goods primarily for export. The Software Development Center will develop software targeted at China’s broad but quickly developing market of converters and tradeshops, which look to greatly improve their production capabilities to serve the local market."
"EskoArtwork chose the Suzhou Industrial Park because it offers a great pool of software talent, a well-structured and professional approach, a sound environment for the protection of IP and a set of excellent incentives," says Jean-Pierre De Moor, Vice President Asia Pacific & Japan. "Furthermore, Suzhou is close to our Greater China Headquarters in Shanghai."
"SIP is pleased to welcome EskoArtwork to the Park. We are always excited when world-class companies and market leaders in their field invest in the Park," concludes Mrs. Sun Yanyan, Vice Chairman of SIP. "It is a testimony of the excellent facilities and incentives offered by the Park."
In a further move to strengthen its position in the Chinese market, EskoArtwork will set up an assembly and manufacturing plant in China for its flagship CDI digital imager for flexo and letterpress plates. The company believes that the flexo and letterpress markets will grow significantly in the next five years, especially when the extensive local tradeshops and converter market switches to digital plates.
Large Format Review provides daily breaking news on digital printer technology as used for commercial production of print for wide-format sign and display, dye-sublimation textile and fabric printing, packaging and industrial applications. We also cover 3D print and additive manufacturing.