Monday, February 1, 2010
Office Equipment Industry Still Sliding........
In Japan, Ricoh announced to its shareholders that it is revising its sales forecast downward by 3.1%, but its net income will be up by 50%, due to cost cutting measures.
Kodak announced its first quarterly profit ($443 million) in over a year due to increased sales of its desktop color inkjet printers and MFPs. In 1988, it employed 145,300 workers, now it only has 20,300.
EFI gave out details of its last financial quarter:
- Revenue in North America declined 19%
- The Fiery division posted a drop of 34%
- In U.S., Fiery revenue was down 24%
- Net loss of $3.4 million
- Total revenue down 18% for $114 million
- Now has 1.7 million Fiery print servers in operation
- Inkjet printer revenue down 2% in U.S.
- Inkjet supply revenue up 24%
When asked about economic recovery, Bill Gates, founder of Microsoft stated; “When you have a financial crisis like that, it’s years of digging out”. The current economic situation is “the toughest Microsoft has ever faced”.
Xerox announced it is reducing what it pays U.S. workers in severance. Details:
- Will cut another 2,500 jobs
- “We are identifying various cost reduction actions to help us re-size our company in the face of significant revenue decline and to be getter positioned to invest going forward.”, according to Jim Firestone, President of Xerox.
- Instead of receiving 1.5 weeks for every year employed, now laid off workers will only get 1 week for every year with company
Toshiba stated that its net loss for its fiscal third quarter are less from a year earlier as its memory chip business recovered on demand for mobile gadgets.
- Cut its full year sales prediction by 6% as a result of continued weakness in economy
- Expects to lose 50 billion yen in current financial year
- No comment given on its MFP/printer business.
Toshiba still seems to be hurting, to me it's just a matter of time before they give up on the MFP business and concentrate on their core business.
In an article in the Wall Street Journal titled; “Ten Brands That Will Disappear in 2010”, the author included Kodak
Canon reported info on its last quarter’s financials:- Net profit of 61.6 billion yen (compared with 217.1 billion yen last year)
- Sales of 954.1 billion yen down 4.1%
- Digital camera sales were up, but copier/printer sales were down
- Predicts that net income will rise 52% to 200 billion yen ($2.24 billion) in 2010
- Predicts sales will rise to 3.45 trillion yen
- Copier/printers accounted for 51% of 2009 revenue
- Predicts that copier sales will rise 7% in 2010