At Ipex 2010, Fujifilm is demonstrating how its technologies, solutions and sound business advice will give printers of all shapes and sizes the 'power to succeed' in today's tough economic climate, and invites them to come to its stand (9-CD360) to see its comprehensive range of products in action.
Fujifilm is in the unique position of being able to offer benchmark printing solutions across a wide portfolio of applications, all based on the latest technologies.
Opening up new business opportunities with wide-format
A considerable area of the Fujifilm stand is devoted to wide-format print production. Here, Fujifilm is exhibiting the recently launched Uvistar UV inkjet roll-to-roll machine. The Uvistar uses Fujifilm's specially developed Uvijet QK inks and can print on rolls up to five metres wide, altering the way that material for both billboard and POP applications will be prepared in the future.
Fujifilm is also showing its brand new Pro-File system, which has been designed to allow screen printers to deliver consistent colour output and optimise production efficiencies across both screen and inkjet technologies. The Pro-File system combines three best-in-class components – Fujifilm Sericol screen inks, Fujifilm Acuity digital printers, and ColorGATE software – to help printers deliver the consistent colour demanded by customers in the 21st century.
In addition, the Inca Onset S20 printer, the latest high performance member of the Onset family, is on the stand alongside the latest Acuity Advance HS wide-format device. Fujifilm will be demonstrating how both these printers can be used to produce ultra-high quality, innovative print at high speeds to add value to wide-format print operations. Also, Fujifilm's euromedia experience area takes a prominent position on the stand, where the company is showcasing many different types of creative media applications.
To complete Fujifilm's wide-format offering, the Esko Kongsberg i-XL cutting table is on the stand, perfectly complementing Fujifilm's market leading range of wide-format solutions.
Océ, through Canon Inc., refinanced both the multicurrency revolving credit facilities and the United States Private Placements. The intent of Canon and Océ to refinance Océ's debt has been announced on various occasions prior to the completion of Canon's offer on Océ's ordinary shares.
The refinancing does not include financial covenants or commitment fees and is at more favorable interest margins than the aforementioned facilities.
As a consequence of the refinancing, Océ's second quarter earnings will include EUR 40 million one-off finance expenses. In addition, as a consequence of the change of control, also other substantial one-off items will be recorded in Océ's quarterly earnings.
Expert information will help ensure printers meet latest legislative requirements
FESPA has confirmed an engaging line-up of expert speakers for its first Planet Friendly Summit, taking place on Thursday 24th June 2010 during FESPA 2010 (22-26 June, Messe Munich, Germany).
Printers who don’t comply with EU environmental legislation risk being closed down or being fined thousands of Euros. They also risk missing out on lucrative accounts if their working practices don’t comply with their customers’ sustainability programmes. The Summit will give clear information to printers who could risk falling foul of current and forthcoming legislation if they fail to stay abreast of recent developments and address their environmental practices.
Acknowledging that the environment may have slipped down the commercial agenda for some in the face of the global economic crisis, the programme will also focus on the many positive ways in which improvements to environmental sustainability can boost business performance. Delegates will take away a clear strategic overview of the drivers for adopting sustainable business practices, and leave armed with practical advice on how they can embark on a sustainability programme, or enhance this aspect of their operations.
The inclusion of the free, half-day Planet Friendly Summit in the FESPA Innovate! programme of satellite events running on site in Munich is FESPA’s response to the market’s overwhelming demand for its Planet Friendly Guide. Through its Planet Friendly initiatives, FESPA aims to help the wide format community future-proof itself against forthcoming environmental regulation and legislation.
More importantly, forward-thinking printers need to be proactive to meet growing brand owner demand for more sustainable print production and tighter environmental management through the creative supply chain. This is the focus, for example, of the Planet Friendly Summit session hosted by Robert Horne’s Steve Lister, under the heading What Major Brands are Demanding from Printers.
“Being ‘planet friendly’ is not just about doing the right thing”, emphasises FESPA sales and marketing director Marcus Timson. “Aside from the high risks associated with non-compliance, there is a very sound business argument for adopting more sustainable practices. I meet an increasing number of innovative printers who are reaping the commercial rewards that come from harnessing good environmental credentials as a clear point of differentiation in a crowded and increasingly commoditised market.” One such entrepreneur, Richard Owers of Pureprint Group, will offer Summit delegates his own case study of how his ‘planet friendly’ print business is thriving.
The Summit will look at the close link between sustainability and efficiency and the positive effect this has on margins, with a session from eco-visionary Mike Horsten of the Zemt Green Consultancy, addressing the question Is Planet Friendly Printing Profitable?
The legislative implications will be address by Paul Machin, specialist in European environmental law and co-author of FESPA’s Planet Friendly Guide. Paul’s session, You and the Environment: An EU Perspective 2010 – 2020 will be an invaluable opportunity for any printer seeking to clarify how future legislation will impact their business.
The Planet Friendly Summit will end with a panel debate, followed by a networking session and an opportunity to spend the remainder of the day visiting the FESPA 2010 exhibition.
Registration for FESPA’s Planet Friendly Summit is free, but with places limited, printers wishing to attend should register now at www.fespa2010.com
HP today announced financial results for its second fiscal quarter ended April 30, 2010, with net revenue of $30.8 billion, up 13% from a year earlier including a favorable currency benefit of four percentage points.
In the second quarter, GAAP diluted earnings per share (EPS) was $0.91, up from $0.71 in the prior-year period. Non-GAAP diluted EPS was $1.09, up from $0.86 in the prior-year period. Non-GAAP financial information excludes after-tax costs of approximately $0.18 per share and $0.15 per share in the second quarter of fiscal 2010 and 2009, respectively, related primarily to the amortization of purchased intangibles, restructuring charges and acquisition-related charges.
"HP had an exceptional quarter with strong performance across every region," said Mark Hurd, HP chairman and chief executive officer. "We've built the best portfolio in the industry, and our customers are responding. We're winning in the marketplace, investing for the future and confident in the enormous opportunity that lies ahead."
Information about HP's use of non-GAAP financial information is provided under "Use of non-GAAP financial information" below. Unless otherwise noted, all growth rates included in the narrative below reflect year-over-year comparisons.
Second quarter revenue was up 11% in the Americas to $13.5 billion. Revenue was up 11% in Europe, the Middle East and Africa and up 19% in Asia Pacific to $11.8 billion and $5.5 billion, respectively. When adjusted for the effects of currency, revenue was up 9% in the Americas, up 7% in Europe, the Middle East and Africa and up 10% in Asia Pacific. Revenue from outside of the United States in the second quarter accounted for 66% of total HP revenue, with revenue in the BRIC countries (Brazil, Russia, India and China) increasing 25% while accounting for 10% of total HP revenue.
"HP drove double-digit revenue growth and improving profits, contributing to our twentieth consecutive quarter of year-over-year operating margin expansion," said Cathie Lesjak, HP executive vice president and chief financial officer. "With the improving demand environment, we are accelerating investments for growth while raising our full-year outlook."
Services revenue increased 2% to $8.7 billion. Infrastructure Technology Outsourcing revenue increased 6%, while revenue in Technology Services and Business Process Outsourcing were roughly flat year over year. Application Services revenue was down 2% versus the prior-year period. Operating profit was $1.4 billion, or 15.9% of revenue, up from $1.2 billion, or 13.8% of revenue, in the prior-year period.
Enterprise Storage and Servers
Enterprise Storage and Servers (ESS) reported total revenue of $4.5 billion, up 31%. Industry Standard Server revenue increased 54%, while Storage revenue increased 16% with the midrange EVA product line up 3%. Business Critical Systems revenue declined 17%, while ESS blade revenue was up 45%. Operating profit was $571 million, or 12.6% of revenue, up from $250 million, or 7.2% of revenue, in the prior-year period.
HP Software revenue declined 1% to $871 million. Business Technology Optimization revenue increased 3%, and Other Software revenue decreased 8%. Operating profit was $162 million, or 18.6% of revenue, up from $157 million, or 17.8% of revenue, in the prior-year period.
Personal Systems Group
Personal Systems Group (PSG) posted a 20% increase in unit shipments and maintained the leading market share position in PCs worldwide. PSG revenue increased 21% to $10.0 billion. Notebook revenue for the quarter was up 17%, while Desktop revenue increased 27%. Commercial client revenue was up 19%, while Consumer client revenue increased 25%. Operating profit was $465 million, or 4.7% of revenue, up from $378 million, or 4.6% of revenue, in the prior-year period.
Imaging and Printing Group
Imaging and Printing Group (IPG) revenue increased 8% to $6.4 billion. Supplies revenue was up 6%, while Commercial hardware revenue and Consumer hardware revenue increased 13% and 16%, respectively. Printer unit shipments increased 9%, with Commercial printer hardware units down 8% and Consumer printer hardware units up 15%. Operating profit was $1.1 billion, or 17.2% of revenue, versus $1.1 billion, or 18.2% of revenue, in the prior-year period.
ProCurve revenue increased 31%, and HP Networking overall increased 58% year-over-year including the impact of the 3Com acquisition.
HP Financial Services
HP Financial Services (HPFS) revenue increased 18% to $755 million. Financing volume increased 20%, and net portfolio assets increased 21%. Operating margin was 9.1%, up from 7.2% in the prior-year period.
HP generated $3.1 billion in cash flow from operations for the second quarter. Inventory ended the quarter at $6.4 billion, flat year over year in days of inventory. Accounts receivable of $14.8 billion was down 5 days year-over-year. Accounts payable ended the quarter at $13.4 billion, up 2 days over the prior-year period. HP's dividend payment of $0.08 per share in the second quarter resulted in cash usage of $196 million. HP also utilized $1.8 billion of cash during the quarter to repurchase approximately 35 million shares of common stock in the open market. HP exited the quarter with $14.3 billion in gross cash.
For the third quarter of fiscal 2010, HP estimates revenue of approximately $29.7 billion to $30.0 billion, GAAP diluted EPS in the range of $0.87 to $0.89, and non-GAAP diluted EPS in the range of $1.05 to $1.07. Third quarter fiscal 2010 non-GAAP diluted EPS estimates exclude after-tax costs of approximately $0.18 per share, related primarily to the amortization of purchased intangibles, restructuring charges and acquisition-related charges.
HP expects full year fiscal 2010 revenue growth of approximately eight to nine percent. HP expects full year fiscal 2010 GAAP diluted EPS to be in the range of $3.76 to $3.81, down from its previous estimate of $3.79 to $3.86, and non-GAAP diluted EPS to be in the range of $4.45 to $4.50, up from its previous estimate of $4.37 to $4.44. Full year fiscal 2010 non-GAAP diluted EPS estimates exclude after-tax costs of approximately $0.69 per share, related primarily to the amortization of purchased intangibles, restructuring charges and acquisition-related charges.
The non-GAAP diluted EPS estimates for both the third quarter and the full year fiscal 2010 include the expected dilution associated with the proposed acquisition of Palm, Inc. that HP announced on April 28, 2010. However, HP has not included any revenue associated with the Palm acquisition in its revenue outlook for either the third quarter or the full year fiscal 2010.
FESPA and sponsor Avery Graphics invite entries to FESPA 2010 Wrap Cup vehicle wrapping competition
Would-be ‘wrap stars’ are invited to enter the FESPA Wrap Cup (www.fespa-wrap-cup.com), the live vehicle wrapping competition running throughout FESPA 2010 (Messe Munich, 22-26 June 2010).
Over the course of the five day event 64 vehicle wrappers will compete to win thousands of Euros worth of prizes and the coveted title of ‘FESPA Wrap Star’.
Each day 16 individual competitors will be whittled down to one during three competitive rounds. ‘Wrappers’ will be challenged to wrap a variety of cars with speed and precision. They will be given just half an hour in the first round, increasing with each progressive stage, and culminating in a daily final. The winners from each of the first four days will then go on to compete in the two-part Grand Finale on the last afternoon of the show, where they will be challenged to wrap the side of a Chevy Corvette convertible and the front of a racing motorbike - all in one piece.
“The wrappers will be evaluated on the quality of their work, although speed will be a decisive factor should there be a draw,” says FESPA Wrap Cup event coordinator Dirk Moebes of Digital DesignWare. “This is going to a fun event, both to watch and take part in, but above it will be an excellent way for competing print service providers to showcase their skills among peers.”
Competitors will be judged by a panel of three, including Robert Ivers, founder of the PDAA (Professional Decal Application Alliance) and Hans van den Berg, technical training manager of FESPA Wrap Cup sponsor Avery Graphics.
Any company with some experience of vehicle wrapping can enter a representative. To sign up, visit www.fespa-wrap-cup.com. A modest registration fee of Euros 200.00 is payable, but all participants are guaranteed to take home a prize package worth at least 2000€, even if they do not survive the first round. The finalists will be presented with products and services worth more than 8,000€ each at an exclusive awards ceremony following Saturday’s final.
FESPA Sales & Marketing Duirector Marcus Timson adds: “Entering the FESPA Wrap Cup needs no incentive. It’s an amazing platform for gaining exposure to potential customers, and participants are guaranteed to take home a share of 200,000€ worth of superb prizes. We’re looking forward to a spectacular and adrenaline-powered competition, showcasing the skill and creativity that are making vehicle decoration one of the most innovative and effective outdoor marketing tools in today’s promotional mix.”
The FESPA Wrap Cup is part of the FESPA Innovate! Programme at FESPA 2010. For more information about the show, and the full programme of satellite events, please visit www.fespa2010.com
Following the continued unpredictable weather pattern caused by the volcanic ash cloud, the Ipex organisers have established a dedicated on-site communications desk to ensure that exhibitors and visitors are kept fully abreast of air travel developments.
During show opening hours, the communications desk will be located in the Atrium at the front of hall 6 and will closely monitor the news media and the appropriate aviation bodies to regularly update the travel section on www.ipex.org. The desk can be contacted on +44 (0) 20 3377 3730.
Ipex 2010 is taking place from Tuesday 18th May to Tuesday 25th May 2010 at The NEC, Birmingham, UK.
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.