Large Format Review - Business News

EskoArtwork announces that it has entered into an alliance with EFI to co-market EskoArtwork software solutions specifically aimed at the large format sign and display market. Under the agreement, the companies agreed to co-market the new EskoArtwork i-cut Suite, the expanded collection of pre-production software, beginning at Fespa 2010. In combination with EFI's Fiery XF solutions for the wide-format and super wide digital inkjet market, the combined offering streamlines production substantially.

"EskoArtwork since long is the leader in developing prepress, automation and workflow solutions, and their years of experience make them a key player in this market," comments Stefan Spiegel, General Manager EFI Inkjet Applications. "Their i-cut Suite is a unique offering that, in combination with our EFI Fiery XF solutions, will enable our EFI Rastek wide format and EFI Vutek super wide format customers in single- or multi-printer environments to improve their efficiency and reduce costs, and ultimately increase print productivity."

"We are very pleased to enter into this alliance with EFI. As the industry continues to evolve, printing and workflow technology must become faster, less costly and more efficient. In this highly competitive market it's critical that suppliers are able to offer a true end-to-end automated solution," adds Bryan Stringer, Worldwide Business Development Manager Sign & Display at EskoArtwork. "Along with EFI, we recognize the importance of partnering and combining the unique strengths of best-in-class solutions that answer the specific needs of the sign and display market. We strongly believe this benefits the industry by delivering true integrated solutions that help customers to become more competitive and profitable."

Streamlined production workflow with i-cut Suite, introduced at Fespa 2010

With i-cut Suite, EskoArtwork offers companies that drive a large format digital printer and/or digital finishing systems a complete end-to-end workflow solution. The company stands alone in delivering prepress and automated workflow solutions specifically for the large format digital printing and finishing industry. That industry has no truly integrated solutions available, but relies on fragmented tools that lead to trial and error and create problems for production shops. With the i-cut Suite, users can smoothly and efficiently resolve problems associated with file preparation and layout.

i-cut Suite is comprised of i-cut Preflight for efficient PDF preflighting and editing and i-cut Layout for interactive layout and nesting. The precise and accurate die-less cutting, the i-cut Vision Pro control system is essential. With i-cut Suite, users don't have to go back to a native application, working within a PDF file. It reduces errors by spotting them before RIPping, and it optimizes the layout, which ultimately reduces material costs and minimizes the set-up time.

At Fespa 2010, the full range of EskoArtwork products will be demonstrated on the EskoArtwork stand, located in Hall B1, stand 270.

Outgoing president Anders Nilsson recognised for significant progress against ambitious corporate objectives

Gyorgy Kovacs will be inaugurated as FESPA President at FESPA 2010, with an official ceremony at the Gala Dinner on Friday 25 June at Munich’s Nockherberg.  Gyorgy takes over from outgoing President Anders Nilsson, who has held the position since FESPA 2007 in Berlin.

During his three-year tenure, Anders Nilsson has worked with the FESPA executive team to meet an ambitious set of strategic objectives.  Since 2007, the FESPA Digital event concept has gone from strength to strength, with events in Geneva (2008), Amsterdam (2009) and India (2009) attracting significant new visitor audiences.  In the Americas, FESPA acquired the established imageWORLD event, rebranding the show as FESPA Mexico which is now in its third successful year.  FESPA has also embarked on an active event programme in Asia Pacific, launched a Digital Textile conference to address this rapid growth market, and staged a series of leadership events and Summits in Europe, Asia and the Americas.

The success of these events has enabled FESPA to maintain an active reinvestment programme, ploughing more than Euros 1.5 million of surplus revenues into educational and best-practice initiatives to directly benefit members of the global FESPA community.

FESPA CEO Nigel Steffens comments:  “We’re grateful to Anders for the energy and enthusiasm he has brought to the Presidency during this challenging and exciting period for the FESPA community.  In the last three years our industry has been substantially reshaped by rapid technological revolution and market consolidation, culminating in a deep global recession.

“Against this backdrop, Anders has worked with the FESPA board and executive team to drive a series of extremely successful global events in Europe, Asia, and Latin America.  The FESPA brand is now globally recognised and FESPA events are considered a benchmark for quality in our industry.  We have set a clear path to be the leading global connected community for wide format imaging professionals, uniting printers and suppliers on every continent.”

During Gyorgy’s Presidency, FESPA will host FESPA Digital events in Hamburg, Germany (2011) and Barcelona, Spain (2012), and take its flagship event to London, UK, in 2013.  Singapore will be the host country for FESPA Asia 2011, and the first FESPA Americas show will take place in Florida, USA, in the same year, reinforcing FESPA’s presence in the Americas.

Gyorgy Kovacs states:  “I look forward to building on the work done by Anders and the team since 2007. I’m immensely proud of our achievements, and passionate about the benefits that print service providers can access through FESPA.  The growth opportunities for our members have never been more exciting, and FESPA is committed to helping printers meet and profit from the changing demands of brand owners and print buyers.  I’m thrilled to be given this chance to steer us through the next stage of FESPA’s development.”

EFI, a world leader in customer-focused digital printing innovation, announced today, just ahead of the opening of the FESPA 2010 in Munich, Germany, the sale of its 80th VUTEk GS Series UV superwide printer to commercial printer Segnobit in Creazzo Vicanza, Italy. Owner Nicola Cracco purchased a VUTEk GS3200 for its photorealistic quality, superwide production speeds and the wide range of applications that it is capable of producing. The VUTEk GS Series printers, which include the 3.2-meter GS3200 hybrid flatbed and roll-to-roll printer and the 5-meter GS5000r roll-to-roll printer, were unveiled by EFI just one year ago.

"We're currently running two VUTEk superwide printers and have been very happy with the level of service from EFI – we have a very strong relationship with the company," said Cracco, owner of Segnobit. "Our company is growing and we decided to step up to a 3.2-meter roll-to-roll and rigid hybrid printer to enter new markets. The quality of the GS3200's output is unbelievable. Digital superwide printers have incredible advantages, and the VUTEk GS3200 is the top of the line. As these printers are becoming faster, more versatile and more economical, the gap between high-volume and digital printing continues to close. Our new ability to economically produce shorter runs with expanded regionalization to a range of non-standard materials – all while carrying lower inventory – makes the GS3200 a sound investment with a brilliant ROI."

By adding the VUTEk GS3200 to their shop, Segnobit will be able to perform shorter runs, more regionalization, as well as print on a wide array of non-standard rigid and flexible materials, all while carrying lower inventory. Because the company is heavily involved in visual communications and advertising, they purchased their GS3200 with EFI's Fiery XF RIP solution to achieve accurate color and reduce lengthy production times. "EFI's innovation and technological advancements provide the tools that businesses like ours need. We're obviously moving in the same direction," added Cracco.

EFI's VUTEk GS3200 complements higher-volume commercial production printers, and is the perfect replacement for multiple wide- and grand-format printers in a single shop. Its versatility expands the reach of superwide printing into new industries and applications with breakthrough speed (up to 2400 square feet/233 square meters per hour) and incredible photorealistic image quality (up to true 1000 dpi) in the same printer. The VUTEk GS3200 exemplifies flexible, versatile production with its ability to transition from rigid to roll-to-roll in less than one minute, its capacity to print on an increasing range of traditional and specialty substrates, and its in-line, three-layer white-printing capability.

In addition to the successful GS3200, the other product in the GS family, EFI's VUTEk GS5000r 5-meter roll-to-roll printer enables digital print providers to efficiently produce applications ranging from exhibition graphics and fine art reproductions to billboards and building wraps with its dual resolution capability. The GS5000r can print in eight colors at true 1000 dpi, or can switch to Fast-4 and print in four colors at speeds up to 3100 square feet (288 square meters) per hour. The flexibility and versatility of this printer makes it ideal for digital print providers who are focused on growing their business by offering more applications and capabilities.

"In addition to the increasing success of the GS Series, so far this year our VUTEk UV ink volume is up 35 percent from last year – a clear sign that VUTEk users are handling more work, winning more market share from their competitors and expanding their businesses," said EFI President Fred Rosenzweig. "Our mission has always been to help printers move from analog to digital workflows, and this percentage increase is evidence of the success of that strategy for our customers and partners."

PrintIT! has today announced that Wayne Barlow, Director-Professional Print of Canon UK has been named as the new Chairman of PrintIT!  Wayne takes over the chairmanship from George Clarke, Managing Director of Heidelberg UK and President of Ipex 2010, who has held the post for the past year.  The handover took place at a special sponsors and supporters reception, held after the PrintIT! Awards Ceremony during Ipex 2010.

Canon UK has been a sponsor of PrintIT! since its inception back in 2005, and in addition to the ongoing support of his organisation, Wayne is passionate about the cause of attracting creative young talent to the industry, and is keen to lend his own personal commitment to the future success of the project.

Wayne Barlow himself admits he has some ‘big boots to fill’, taking over as Chairman from George Clarke and comments, “I have strongly admired the achievements of PrintIT! over the past five years, and now more than ever, we need to come together in arms to continue to support this initiative and ensure it continues to evolve into something even greater.  Every printer and print-related business in the UK has a role to play in PrintIT!, and I want to encourage everyone not only to get behind PrintIT!, but to play an active role in its future - to find an industry friend, partner or customer and get them signed up to the Twinning Programme and interacting with their local participating school.”

He continues, “If the industry in the UK is to survive and maintain its competitive edge in the future, we need to look to this exciting talent pool and encourage these youngsters to channel their abilities into a career in print, be it technical, creative or even sales and commercial related areas.  We only have to look back at some of the greatest inventions of the 21st century, namely the internet, email and social media, to see the impact that such creative young talent can have on business.”

Wayne also used the Ipex Awards Ceremony to present the overall winner of PrintIT! 2010, Daniel Smith from St Ives School in Cornwall, with an expenses paid, overnight trip to Paris in the Autumn, to attend Canon Expo 2010 courtesy of Canon UK.  Daniel, will be accompanied by a teacher, parent, Best Twinner, Vario Print and a representative from Proskills, to attend the show which takes place every five years, and ‘take a look into the future of imaging’ by seeing the Canon’s future technologies covering medical, broadcasting, consumer, business and print related solutions

“We’re delighted that Wayne has accepted the role of Chairman of PrintIT!, adds Terry Watts, Chief Executive of Proskills.  “Wayne’s continued support of the initiative, and his personal drive and passion will give a tremendous boost and momentum to PrintIT! as he lends a positive voice of encouragement to the industry to come on board.  I would also like to take this opportunity to thank George Clarke for all his work over the past year.  And, once again, I want to reiterate our thanks to the whole industry for its continued support, especially during some challenging times, and look forward to planning our sixth successive PrintIT! competition for the forthcoming academic year.”

 

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.

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

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

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.

 

Corporate Investments

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.

 

Asset management

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.

 

Outlook

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.