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Post Lexmark deal, Xerox evaluates staff reductions News 

Post Lexmark deal, Xerox evaluates staff reductions

GaryPageau ,
Rochester, N.Y.,-based TV station News10NBC (WHEC-TV) reports Xerox is reducing its workforce as part of its merger with the company Lexmark, a Xerox spokesperson confirmed. Xerox acquired Lexmark, a Kentucky-based imaging and laser printing company, in July at a $1.5 billion valuation. In a statement, Xerox said it has begun notifying employees about workforce reductions as it integrates with the new... Read More
Xerox back in cut-sheet inkjet with Xerox IJP900 Press New Products 

Xerox back in cut-sheet inkjet with Xerox IJP900 Press

GaryPageau ,
Xerox Holdings Corp. introduced the Xerox IJP900 Inkjet Press, marking its return to the rapidly expanding mid-volume inkjet market. The company says the IJP900 integrates into the Xerox end-to-end production print ecosystem, combining Xerox FreeFlow workflow automation, XMPie personalized communications, and AI-assisted workflows solutions with production analytics to accelerate job preparation, automate repetitive tasks, and deliver real-time operational insight. “The... Read More
Xerox reports second-quarter results, ties in with Kyocera Document Solutions for cut-sheet inkjet press Earnings reports Investments News 

Xerox reports second-quarter results, ties in with Kyocera Document Solutions for cut-sheet inkjet press

GaryPageau ,
Xerox Holdings Corp. reported second-quarter revenue was flat, at $1.58 billion, while the GAAP net loss declined by declined by $124 million to $(106) million, or $(0.87) per shar. “Completing the Lexmark acquisition marks an important milestone in the company’s Reinvention, creating a vertically integrated market leader with a broader, differentiated set of workflow and technology solutions for our clients... Read More
Xerox completes Lexmark acquisition Acquisitions News 

Xerox completes Lexmark acquisition

GaryPageau ,
Xerox Holdings Corp. completed the previously announced acquisition of Lexmark International, Inc. from Ninestar Corporation, PAG Asia Capital, and Shanghai Shouda Investment Centre. The transaction is valued at $1.5 billion inclusive of net debt and assumed liabilities. “We’ve long admired Lexmark’s strong print and managed print services reputation, robust client and partner base, and global presence. Over the years, we’ve... Read More
Xerox announces Lexmark execs joining leadership team Acquisitions News 

Xerox announces Lexmark execs joining leadership team

GaryPageau ,
As part of Xerox Holdings Corp.’s acquisition of Lexmark International, Inc., the company announced two Lexmark executives will join its Executive Committee at the close of the acquisition, expected at the close of the third quarter of 2025. Further strengthening the Xerox leadership team, Kim Kleps will serve as Xerox Chief People Officer, effective immediately.  The incoming Executive Committee members... Read More
Xerox reports first-quarter revenue down 3 percent Earnings reports News 

Xerox reports first-quarter revenue down 3 percent

GaryPageau ,
Xerox  Holdings Corp. reported first-quarter revenue of $1.46 billion, down 3.0 percent, and 1.1 percent in constant currency. The GAAP net (loss) of $(90) million, or $(0.75) per share, improved by $23 million or $0.19 per share, year-over-year, respectively. The adjusted net (loss) of $(4) million, or $(0.06) per share, declined by $15 million or $0.12 per share, year-over-year, respectively.... Read More
Xerox to acquire Lexmark for $1.5 billion Acquisitions News 

Xerox to acquire Lexmark for $1.5 billion

GaryPageau ,
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