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Like time, the news never stops. Staying up to date with all the goings-on and happenings is, at the very least, beneficial from an educational standpoint—but it can be very difficult to keep up with. Thanks to our News Service, which is updated every business day, we cover everything from print to managed IT to smart workplace and beyond. Here, to provide you with a recap of the month that was, we offer up…
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Canon U.S.A. Expands Production Finishing Options
Canon announced new third-party finishing solutions that will provide increased production and application flexibility. The offerings include: in-line with its imagePRESS V1000 and V1350 digital toner presses, the BLM5000 series production booklet maker from Plockmatic; in-line with the varioPRINT 140 series QUARTZ and imagePRESS V900 series, the Press Trim Module from Smart Dedicated Design; and for customers requiring nearline solutions, the GBC Nearline Punch and Bind. Available June 1, 2023, these new offerings deliver solutions for high-volume color booklet making, light production booklet making, as well as nearline wire-bound booklet making.
Xerox Releases Financial Results of Q1 2023, Donates PARC
According to Chief Executive Officer Steve Bandrowczak, Xerox delivered a strong performance while remaining focused on its three strategic priorities for 2023: client success, profitability, and shareholder returns.
Revenue is up 2.8% year-over-year (YOY) to $1.72 billion, or up 5.5% in constant currency. GAAP earnings per share are $0.43, which is up $0.81 YOY. The adjusted EPS is $0.49, which is up $0.81 YOY. The adjusted operating margin of 6.9% is up 710 basis points YOY. Operating cash flow is $78 million, which is up $12 million YOY. Free cash flow is $70 million (up $20 million YOY), and Xerox repaid $450 million of debt during the quarter.
The company also announced it had donated its Palo Alto Research Center (PARC) to SRI International, allowing Xerox to focus efforts on print, IT, and digital services. (Read more about PARC here.)
Copystar Is Now Kyocera!
Kyocera Document Solutions America announced that Copystar will be replaced by the Kyocera brand as of June 30, 2023. This strategy allows Kyocera’s to further strengthen its brand and fortify its resilience in facing the uncertainty of the business landscape. (Read more about consolidation here.)
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