You are here
Xerox appoints John Bruno as President, COO News 

Xerox appoints John Bruno as President, COO

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

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

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

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

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

  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
Xerox debuts new print products, including three printers New Products 

Xerox debuts new print products, including three printers

Xerox Holdings Corp. announced new presses, technology enhancements for existing printers as well as AI and automation features. The announcements included: A color accelerator module for Baltoro, expanding inkjet applications and adding ink-saving automation Addition of fluorescent pink to the Iridesse Production Press, enhancing its metallics, white and clear color palette Three new printers in the VersaLink and Versant family capable... Read More
Xerox reports 19 percent drop in third-quarter revenue Earnings reports 

Xerox reports 19 percent drop in third-quarter revenue

Xerox Holdings Corp. announced its third-quarter 2020 revenue of $1.77 billion, down 18.9 percent year-over-year or 19.7 percent in constant currency and up $302 million from the second quarter. Operating cash flow from continuing operations was $106 million, down $242 million year-over-year and up $72 million from the second quarter. “The flexibility and financial discipline we have built in our... Read More
Xerox reports second-quarter revenue drops 35.3 percent Earnings reports News 

Xerox reports second-quarter revenue drops 35.3 percent

Xerox Holdings Corp. reported second-quarter revenue of $1.47 billion, a decrease of 35.3 percent year-over-year. The company also reported $34 million of operating cash flow from continuing operations, down $242 million year-over-year, and $15 million of free cash flow, down $245 million year-over-year. “I am proud of our employees who did what was necessary during this unprecedented disruption to support our business... Read More
Xerox reports lower first-quarter sales Earnings reports 

Xerox reports lower first-quarter sales

Xerox Holdings Corp. reported first-quarter revenue dropped 14.7 percent to $1.86 billion, with cash flow dropping to $173 million of operating cash flow from continuing operations, down $49 million year-over-year, and $150 million of free cash flow, down $57 million year-over-year. “During this unprecedented time, we are committed to doing everything in our power to protect our employees, customers, partners... Read More
Xerox, Vortran Medical partner to mass-produce disposable ventilators News 

Xerox, Vortran Medical partner to mass-produce disposable ventilators

Xerox Holdings Corp. and Vortran Medical Technology teamed up to speed and scale production of Vortran’s GO2Vent ventilator and related Airway Pressure Monitor (APM-Plus) for hospitals and emergency response units fighting the battle against COVID-19. Assuming a stable supply of essential parts, the companies will be rapidly scaling up production from approximately 40,000 ventilators in April to between 150,000 and 200,000... Read More
Xerox abandons tender off for HP, due to COVID-19 pandemic Acquisitions News 

Xerox abandons tender off for HP, due to COVID-19 pandemic

Xerox Holdings Corp. is abandoning its effort to acquire much-larger rival HP Inc., citing the “macroeconomic and market turmoil” caused the COVID-19 pandemic. The company said it is withdrawing its $24-per-share tender offer to acquire HP and will also no longer seek to nominate  a slate of candidates to HP’s Board of Directors. The company’s statement continued: While it is... Read More
HP says Xerox tender offer is “disastrous” in current climate Acquisitions News 

HP says Xerox tender offer is “disastrous” in current climate

HP Inc. advised shareholders advancing Xerox’s proposed tender offer could be “disastrous” during the current global COVID-19 pandemic. HP said the Xerox’s offer would burden the company with a debt level that could potentially threaten its cash needs, but hasn’t ruled out a future combination if and when the economy improves.  HP also raised concerns the “highly leveraged capital structure”... Read More
Xerox puts HP bid on hold due to COVID-19 concerns Acquisitions News 

Xerox puts HP bid on hold due to COVID-19 concerns

Xerox Holdings Corp. today put a hold on takeover bid activities for HP Inc. due to the global COVID-19 pandemic. “In light of the escalating COVID-19 pandemic, Xerox needs to prioritize the health and safety of its employees, customers, partners and affiliates over and above all other considerations, including its proposal to acquire HP,” said John Visentin, Xerox vice chairman... Read More
Xerox officially launches HP tender offer; HP rejects it Acquisitions News 

Xerox officially launches HP tender offer; HP rejects it

Xerox Holding Corp. officially launched its $34 billion cash-and-stock offer for HP Inc., a proposal valued at about $24 a share. (For each HP share, a holder would receive $18.40 in cash and 0.149 Xerox shares.) The offer is set to expire April 21. Xerox already nominated 11 candidates for HP’s board to help close the deal. “Our proposal offers... Read More