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Xerox to acquire Lexmark for $1.5 billion Acquisitions News 

Xerox to acquire Lexmark for $1.5 billion

GaryPageau , 0 comment
Xerox Holdings Corp. announced it has agreed to acquire Lexmark International, Inc., from Ninestar Corp., PAG Asia Capital, and Shanghai Shouda Investment Centre in a deal valued at $1.5 billion, inclusive of assumed liabilities. This acquisition will strengthen the Xerox core print portfolio and build a broader global print and managed print services business better suited to meet the evolving... Read More
Xerox reports revenue down 7.5 percent in third quarter Earnings reports News 

Xerox reports revenue down 7.5 percent in third quarter

GaryPageau
Xerox Holdings Corp. announced third-quarter revenue of $1.53 billion, down 7.5 percent, or 7.3 percent in constant currency. GAAP net (loss) of $(1.2) billion, or $(9.71) per share, a decrease of $1.3 billion or $9.99 per share, year-over-year, respectively. Xerox also reported adjusted net income of $34 million, down $43 million, year-over-year, respectively. “Q3 results demonstrate no single quarter or... Read More
Xerox introduces Xerox PrimeLink C9200 series production color press Events News 

Xerox introduces Xerox PrimeLink C9200 series production color press

GaryPageau
Xerox announced the Xerox PrimeLink C9200 Series color printers at the PRINTING United Expo 2024 in Las Vegas. This entry-level production press combines Xerox high-end production capabilities, a space-saving design, and automated production workflows to help clients and print service providers deliver high-quality output on time and on budget. The Xerox PrimeLink C9265/C9275/C9281 include features that enable more flexibility and... Read More
Xerox first-quarter results down, updates Reinvention progress News 

Xerox first-quarter results down, updates Reinvention progress

GaryPageau ,
Xerox, Norwalk, Conn., reported first-quarter  revenue of $1.50 billion, down 12.4 percent, or 13.2 percent in constant currency. The company has a GAAP net loss of $(113) million, or $(0.94) per share, a decrease of $184 million or $1.37 per share, year-over-year, respectively. This quarter includes after-tax Project Reinvention related charges of $100 million, or $0.80 per share. Adjusted net income... Read More
Xerox begins layoffs in latest restructuring News 

Xerox begins layoffs in latest restructuring

GaryPageau
Xerox Corp. announced it has begun notifying employees of its previously announced workforce reduction, as outlined in its “Revinvention” plan. The Rochester Democrat and Chronicle estimates a 15% staff reduction among its 23,000 global workforce. As shared last month, Xerox is implementing a new operating model and streamlining our organizational structure to align with the evolving needs of our clients and... Read More
Xerox going for yet another restructuring News 

Xerox going for yet another restructuring

GaryPageau ,
Now that financial and corporate activist Carl Icahn has sold his stake in the company,  Xerox Holdings Corp. announced a new operating model and organizational structure to further the company’s Reinvention plans. The reinvention will include a projected 15-percent workforce reduction, the company said. “The evolution of Xerox’s Reinvention aligns our resources in three key areas – improvement and stabilization... Read More
PrintWeek: Xerox continues use of Fujifilm printing technology News Partnerships 

PrintWeek: Xerox continues use of Fujifilm printing technology

GaryPageau , ,
The U.K.’s PrintWeek reports, that despite the end of the Fuji Xerox joint venture, Xerox will continue to license Fujifilm printing technology through the renewal of its contract with the Japanese manufacturer. The decades-long partnership between the two giants ended in 2019 after investors Carl Icahn and Darwin Deason thwarted Fuji’s plans to acquire the business, but the companies agreed... Read More
After posting declining sales, Xerox announces reinvention plan Earnings reports 

After posting declining sales, Xerox announces reinvention plan

GaryPageau , , ,
Xerox Holdings Corp. announced its 2023 third-quarter results included revenue of $1.65 billion, down 5.7 percent, but GAAP net income of $49 million, or $0.28 per share, up $432 million or $2.76 per share, year-over-year, respectively. The adjusted net income of $77 million, or $0.46 per share, up $44 million or $0.27 per share, year-over-year, respectively. “Growth in adjusted profit,... Read More
Xerox revenue ticks up slightly Earnings reports 

Xerox revenue ticks up slightly

GaryPageau
Xerox Holdings Corp. announced its 2022 fourth-quarter and full-year results and guidance for 2023. For the fourth quarter, the company reported revenue of $1.94 billion, up 9.2 percent year-over-year or up 13.9 percent in constant currency. For the full year, Xerox had revenue of $7.11 billion, up 1.0 percent year-over-year, or up 4.8 percent in constant currency. “Resilient demand and... Read More
Xerox appoints John Bruno as President, COO News 

Xerox appoints John Bruno as President, COO

GaryPageau
Xerox Holdings Corp. announced the appointment of John Bruno as President and Chief Operating Officer. Bruno joins the team following Steven Bandrowczak’s promotion to Chief Executive Officer earlier this year. In this role, Bruno will partner closely with the CEO and leadership team to shape the company’s global strategy and will be accountable for operating model advancements to improve company... Read More
Xerox announces lower first-quarter sales Earnings reports News 

Xerox announces lower first-quarter sales

GaryPageau
Xerox Holdings Corp. announced first-quarter results, including  $1.67 billion of revenue, down 2.5 percent year-over-year and a GAAP (loss) earnings per share (EPS) of $(0.38), down $0.56 year-over-year, and adjusted (loss) per share of $(0.12), down $0.34 year-over-year. “Revenue was in line with expectations this quarter despite an increasingly volatile operating environment,” said John Visentin, Xerox Vice Chairman and CEO. “Underlying... Read More
Xerox reports fourth-quarter revenue down 7.9 percent Earnings reports 

Xerox reports fourth-quarter revenue down 7.9 percent

GaryPageau
Xerox Holdings Corp. announced 2021 fourth-quarter and full-year results and guidance for 2022. The company reported $1.78 billion of revenue in Q4, down 7.9 percent year-over-year, or down 7.4 percent in constant currency; $7.04 billion of FY revenue, up 0.2 percent year-over-year, or down 1.4 percent in constant currency. “Our team’s focus and dedication drove improved results in 2021 despite ongoing... Read More
NikkeiAsia: Fuji Business Innovation cutting into ex-partner Xerox’s European turf News 

NikkeiAsia: Fuji Business Innovation cutting into ex-partner Xerox’s European turf

GaryPageau , ,
NikkeiAisa reports Fuji Business Innovation, Fujifilm Holdings’ office-equipment subsidiary formerly known as Fuji Xerox, is now directly competing with former partner Xerox in Europe, following the dissolution of the pair’s long-standing joint venture last year. Nikkei has learned Fuji Business Innovation will introduce large commercial printers under its own brand in Germany, Spain, Italy, and Portugal, using Fujifilm Holdings’ sales infrastructure.... Read More
Xerox reports second-quarter revenue up 22.4 percent Earnings reports 

Xerox reports second-quarter revenue up 22.4 percent

GaryPageau
Xerox Corp. reported second-quarter revenue was up 22.4 percent to $1.79 billion and GAAP earnings per share (EPS) of $0.46, up from $0.15 year-over-year, and adjusted EPS of $0.47, up $0.32 year-over-year. “We saw growing demand for our products and services in the second quarter. Increased equipment sales and print volumes in many regions are consistent with a continuing, gradual... Read More
Industry Notes for the week of Dec. 12 Events News People on the Move Updates 

Industry Notes for the week of Dec. 12

GaryPageau , , , , , ,
  Pro Photography Lifetouch reducing staff by 100 at Ontario, Ohio church directory plant  Lifetouch notified the State of Ohio the company will reduce permanently reduce staff by 100 persons by February 2021, at its Ontario, Ohio facility. The Shutterfly Lifetouch Church Business operations were severely impacted by COVID-19, the company said in a letter to the Ohio Department of Jobs... Read More