Reprographics 101

Service Point Solutions (SPS) issues Press Release mentioning Q1 2012 Sales

May 13, 2012

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Here’s a link to the
Spanish-language-version of the Press Release, now posted in my GoogleDocs
library:

https://docs.google.com/open?id=0B81al4kFAU9Jb2Z3WG1ZYmg0T28

And, for those of you who cannot read
Spanish, here’s an English-language version of the Press Release, courtesy of
GoogleTranslate (as
I’ve mentioned several times before, Google Translate does not create perfect
translations.)

Service
Point sales of € 55m in the first quarter of 2012

•
Refinance its debt, strengthen its balance sheet and significantly reducing its
financial cost

•
Highlight the good performance of the Scandinavian markets with significant
growth in sales and EBITDA compared to 2011

May 11, 2012. – Service Point closed
the first quarter of 2012 with net sales of € 54.8 m, in line with those obtained in the same quarter of 2011 in a very
difficult international economic environment. It was a quarter in which
additional measures are taken, especially in the British and Dutch subsidiary,
to recover an acceptable level of profitability in the future. In countries
that have shown growth, such as Norway, Sweden, Germany and Belgium have
introduced new market specialized services focused on demand printing and
online channel, which will soon be transferred to other countries in the group.
The results of this period have been affected by the reduction of financial
transactions in the banking sector, which has affected the sales volume
printing services related to IPOs in the British subsidiary, and the process of
restructuring that is taking place in the Dutch subsidiary. In the first
quarter in all geographies, has focused on enhancing future business
opportunities and new contracts, to show a positive trend in the second
quarter. The company has continued to
increase its market share, achieving an increase in the number of its
customers. These initiatives have helped maintain the net loss of EUR 1.7 million. The semi-annual evolution of our
income has the following developments during the period 2008 – 2012:

Gross margin has been placed online to
our objectives with the exception of business in the Netherlands where the
weight of the activity of the lowest postage and printing activity of our
clients have worsened slightly in order to gross margin of the subsidiary.
Gross margin was 64.1% compared to 63.9% obtained in the first quarter of 2011
(excluding postage line in the Netherlands the gross margin in the first
quarter of 2012 would be 69.5% compared to 69.4% over the same period of 2011).

Business
Initiatives

During the last six months, the company
strengthened its management structure to focus the direction of business in strategic
areas and creation of value.

In the last quarter of 2011, there were
four geographical directions to better handle the dynamics of markets in the
countries where Service Point (Scandinavia, Continental Europe, UK and USA).

In geographical terms this structure
has begun to focus and strengthen the synergies and efficiencies both
operationally and in terms of international clients.

The group has continued to enhance
on-line initiatives and opportunities offered by the dynamism of the business
of photo albums.

At levels of costs, reduced staff costs, having eliminated 50
positions in the British market at the end of the quarter and have designed a
further reduction plan for the Netherlands, among other measures. These
initiatives will reduce the fixed cost base by about 5 million per year, with a
positive impact on results mainly from the second half of 2012.

Debt
Refinancing

In late April 2012 Service Point has
reached an agreement with 100% of the banks that make up its syndicated loan to
improve the terms and structure of its debt. The refinancing includes the
following features:

Extension of the maturity to December
2015, with the possibility of an additional year under the fulfillment of
reasonable financial terms.

Debt restructuring in two instruments:
EUR 70 million as long-term debt payable at maturity 95% and 25 million in
convertible debt (interest).

Cancellation of the tranche of funding
(20 million) more expensive debt of the company.

It allows access to an additional
funding amounting to EUR 3 million. After the refinancing, expected to conclude
after approval by the Board of the company during the month of June, the group
can obtain a significant improvement in its balance sheet ratios and in
generating financial resources. The new refinancing agreement allows the
company to develop the strategic plan. It also implies a significant
improvement both in terms of costs, given the significant reduction of interest
expense (3 million per year). All these improvements will be visible from the
second quarter.

Blog Publisher’s comment:

If I’m recalling this correctly, SPS acquired a large Swedish reprographer
(Holmbergs) back around the beginning of Q2 2011. I don’t think (but am not sure) that SPS’
sales for Q1 2011 included the Q1 2011 sales of that company. But, I do know that sales generated by that acquired
business are included in the sales SPS reported for Q1 2012. And, if I’m right about this, then, without
the effect of those sales, SPS would have reported lower Sales for Q1 2012 than
SPS achieved in Q1 2011. Difficult
conditions appear to persist …. and, here
in the U.S., we’ve heard many economists says that several countries in Europe
are back in recession. 2012 may well prove
to be a very challenging year for SPS.
The Landa Nanographic Printing Process (and video)

May 13, 2012

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Landa Nanographic printing presses were shown for the
first time at a major printing and graphics industry event – Drupa – in Dusseldorf,
Germany. Mr. Landa’s newest
digital-imaging-process invention has gotten a lot of industry buzz.

I found this video, take a look: (fascinating
stuff!):

http://www.youtube.com/watch?v=EVrCvocyC2o

It’s my understanding that Landa’s presses are not
yet ready to roll out the door, that Landa is still working on improvements in
image quality, and that shipments are not going to happen until 2013. (Hope I got that right!)

There’s a discussion going on – about the Landa
Nanographic printing equipment – in a group on LinkedIn – and I’d like to share
with you some of the comments posted in that discussion:

Matthew Hibbing • @Ita Vos – Yes, you are correct. If the Landa technology is as capable
as it appears to be, it will have swift and severe ramifications within the
consumables and supply companies. The supply chain will no longer require,
conventional inks, blankets, rollers, press wash, fountain chemistries, spray
powder, rags, etc. The prepress department will be ‘stripped’ again – no longer
necessary will be plates, chemistry and computer-to-plate engines.   The only
consumable products within the process will be the NanoInk and print substrate.
  Also streamlined with Nanographic printing process are the variables within
the unit. Ink ejectors, the digital blanket conveyor and transfer pressure are,
simplistically speaking, the only components with adjustability. Very different
from the high service demands of present day digital and the journeyman
skillsets needed to effectively operate an offset press today.   Buy your
tickets now… It’s going to be a wild ride!

Paul Gardner • • • If they come anywhere near the promises of 5x to 10x print speed,
at a fraction of the print cost, Benny Landa and his team are going to have a
big impact.   Now with Heidelberg, Komori and Manroland onboard, it will be
fascinating to see the product mix that actually hits the market.   This could
be HUGE! And perhaps sooner than most imagine.

Ken Chaletzky • As someone who saw the drupa demonstrations and watched Benny’s show, I
was more than a little impressed. Yes, they will all do variable data. Most
print up to 8 colors on both sides, Top speeds for the sheetfed units range
from 11,000-13,000 sph. That’s 22,000 to 104,000 A4 size impressions per hour,
if my math is correct. Deliveries not expected before the end of 2013. I don’t
think (and I certainly hope) Landa will not release these presses until all
(well, most) of the kinks are worked out and the quality is there. And, while
the 3-meter long touch screen was impressive, I loved the portable iPad-like
touch screen that allows operators to control jobs while they’re away from the
press. Unlike conventional sheet fed presses that may need 2 people to operate
it, one person can operate multiple Landa presses, so I was told.   If most of
this stuff (let alone all of it) is actually realized, this technology will
truly be a game changer.

Ken Chaletzky • I know what you mean. I asked the Landa folks about the quality of the
prints. They were quick to admit they are not yet good enough. That’s one of
the reasons they don’t expect to ship before the end of 2013. It’s also why
they weren’t giving out any samples.
Woodie Rush's thoughts about his attendance at Drupa

May 13, 2012

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Woodie Rush, Principal at RSH DSC, is a
consultant and, in my opinion, is one of the most knowledgeable people ever to
grace the reprographics and graphic imaging industry. He recently attended the drupa event in
Dusseldorf, Germany and sent me his thoughts about drupa, which I’m now going
to share with our blog-visitors.

First, about Woodie, his former
positions, prior to founding Rush DCS:

VP of Global Strategic Services at ReproMAX

Vice President for Corporate Development at Plan Express

Vice President for Administrative Services at
Campbell Blueprint & Supply

And, here’s what Woodie says about Rush DCS’ area of
concentration:

Application of the principles of
supply chain management and comprehensive automation to the acquisition,
processing, and delivery of construction data via electronic or hardcopy
processing.  

My goal is to maximize the
opportunities for automation and develop networks of interoperability and
integration within the construction technology marketplace.

Specialties

Finding solutions for integration of disparate
systems to meet desired customer services, and building bridges between
organizations that concurrently serve the same markets.

Okay, let’s get to Woodie’s comments about drupa:

To: Joel Salus at Reprographics 101

From: Woodie
Rush at Rush DCS

Your blog is
one that I consider a source of good information about what’s happening in our
industry, and I thought I would drop you a line about my experiences at Drupa
this year.

I see that
you have had others report on their experiences as well, and I generally agree
with David Zwang’s observations–specifically regarding the healthy optimism
about the future of the industry as evidenced by both the attendance and the
products being presented.

In the four
days I was there, it was impossible to see everything, but in my humble
opinion, THIS is the kind of venue that people in our industry should should
plan to attend….. sure, Drupa goes way beyond reprographics, but in today’s
world, who ISN’T looking for new ways to generate revenue? While an international
event like this is, indeed, expensive, and held only every four years, I saw
more equipment, more software, and had opportunities to speak to more
“emerging faces” than I have had in years, and considered this a most
educational experience.

Your
reporting on Landa provides an excellent example. Founded by Benny Landa
in Israel, and a leader in the development of the Indigo acquired (several
years back) by HP, he began focusing on ‘nanotechnology’ in printing.
It’s not easy to impress me with slick demos, but what I saw these ‘inkjet’
printers do was truly innovative, and I began thinking of service offerings for
which that equipment would a great fit. Without being overly
enthusiastic, I would encourage your readers to take a look at their products.

One of the
most interesting aspects of Drupa for me was the fact that
“Canon-Oce” integration seems to be almost, if not totally
accomplished. All of us who regularly attend industry trade shows have
always looked for the huge round “Oce’” banner —-but not here!
The Canon branding was overwhelming. I actually had to ASK at the Canon
reception staff where to find the Oce large format devices such as the Velocity
(see Oce Velocity jpg) (Note to blog visitors – if my
attempt to post the picture of the Velocity worked, you’ll see it at the bottom
of this post!) …..
Oce was there, but to say the Oce brand was prominent would be an
overstatement. The Canon branding was overwhelming. I KNOW there MUST have been Oce-USA staff
here from the states, but, for the first time since I started attending these
kinds shows, I saw NO ONE from Oce’ (US or Venlo) that I recognized—and
I went by the booth at least once time each day.

KIP was
there, and seemed to draw good crowds to their booth, especially the C7800,
which you reported about on your blog. A good friend of mine from Europe
told me that while he had never purchased KIP equipment before, he was
seriously considering the C7800. Sherman Sawtelle was there, and seemed
to be engaged with potential customers throughout my visits to their booth.

The HUGE
booths at Xerox (with XMPie), HP, Canon, Ricoh, Fuji-Film, and AGFA were
staffed with people with whom you could explore ‘under the hood’ how things
worked, and I learned a lot about the architecture of software systems supporting
these hardware providers. I was surprised to learn, for example, that
while Oce owns Onyx, the RIP behind the new Oce Velocity wide-foramt printer is
being powered by MemJet, which illustrated to me that interoperability and
integration remain a vital piece of tomorrow’s software/hardware landscape.

But the
highlight for me was the time I spent at so many of the smaller, “standard
booths”, where I found people from around the world who have their
thinking caps on, creating new opportunities that enterprising reprographers
should at least explore. For those looking to put a full range color
services online, a small company from Israel (B2cprint) seems to have come up
with an innovative approach that I found most interesting. Similarly, a
colleague from Germany showed me the scanning system being offered by Rowe that
may hold promise for automating scan workflows. These small companies
came from every corner of the globe, and I found discussions with their owners
and representatives often stimulating and thought provoking. With only a
4 day pass, there was absolutely no way I could get around to all of them, and
the ‘Catalog” I purchased is 784 pages long—and that’s not due to it
being presented in several languages. The bulk of the book is a directory
of companies exhibiting at the show. While the catalog is not
downloadable, the list of exhibitors can be downloaded for free at

http://www.drupa.com/cipp/md_drupa/custom/pub/show,oid,18757/lang,2/ticket,g_u_e_s_t/~/Download_Exhibitors.html

I ran into
several folks from the reprographics industry around the world, but I was a bit
surprised that so few ‘reprographers’ from the US were there. This is one
show that (in my view) is well worth the investment, and if your readers intend
to remain a part of the quickly changing landscape of our industry, I would
urge that they begin planning now to attend the next drupa show, with not only
the principals attending, but also with key technical representatives attending.
Having attended many ‘trade shows’ in my career, I do consider Drupa to
be the best opportunity to see new hardware AND talk with folks who are more
than simply ‘sales staff’. I would also encourage Reprographics 101 to
consider attending to provide a comprehensive, unbiased report on the industry
in general.

Overall,
this was a show well worth the investment.

Picture of the new Velocity from
Oce-Canon.
Supposedly, the economy is in a recovery mode. If that’s so, then what’s up with this?

May 11, 2012

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Several of the large players
in the printing and graphics industry have recently reported a decline in
sales, Q1 2011 vs. Q1 2012, among
them:

– Cenveo

– Quad Graphics

– Pitney Bowes (they are not just in the
“mailing” equipment business)

– Consolidated Graphics

– RR Donnelly

In spite of that, new
equipment continues to flood the printing and graphics marketplace. And, I do mean “flood”. It’s almost impossible to keep up with all of
the new gear companies are introducing.
You have to ask yourself, if printers are experiencing declining, rather
than growing, sales, and, if “print-on-paper” is expected to continue to be in a
declining mode in the years to come, then how will printing equipment
manufacturers continue to be able to justify significant R&D investments in
new printing equipment and technology?

One friend put it like
this. “Right now – and continuing over
the next few years – we are seeing, and going to see, an explosion in digital printing equipment and
technology as digital printing equipment manufacturers (and inventors who
license their imaging technologies) push to replace traditional (i.e., offset)
printing equipment.”

I “guess” that means that,
over the next several years, we’ll be hearing that all of the large offset
printing companies will be acquiring new digital printing equipment to replace
their analog printing presses. That’s
already happening. But, that
“changeover” from analog to digital is going to be very expensive, and where
are the capex funds going to come from if sales continue in a declining mode?

As a “reprographer” by
background, I do remember when, beginning around 1995, high-volume-capable,
very fast, wide-format, b/w, multifunction, digital scanner / copier / printer / plotters (e.g. OCE 9800) began to make inroads in the
reprographics industry – began to replace analog diazo printers, and that
process seriously ramped up over the next several years. But, while reprographers were making the
decision to acquire this expensive new stuff to replace their old stuff, sales
were booming (because the A/E/C Industry and the real estate development
industry were booming!) It’s certainly
much easier to justify significant new capex when sales are booming (and
expected to increase from there!) It’s
an altogether different animal when you have to make significant new
investments in new printing equipment, when sales are dragging and expected to
further decline! I do think this is
going to force further consolidation in the printing industry market. Darwinian!
Landa S10 – Hit of the (drupa) Show (nanographic printing technology)

May 11, 2012

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Friday, May 11, 2012

Press release from the issuing
company

Landa Corporation today announced it
was receiving unprecedented levels of interest and orders (Letters of Intent
with deposit) for its B1 format commercial digital press, the Landa S10
Nanographic Printing Press, with crowds flocking to see it on the Landa stand
in Hall 9. It is the only B1 size digital press on the market and has the
specifications to penetrate mainstream commercial print markets, printing at
offset speeds and qualities without requiring plate changes or lengthy set-up
times.

By fitting seamlessly into existing
workflows and finishing environments, the Landa S10 has the capacity to
add highly productive output, printing single-side or double-side at up to
13,000 SPH on any off-the-shelf stock (60-400 gsm). The B1 format makes the
Landa S10 ideal for a range of general commercial applications such as
brochures, booklets, greetings cards, catalogs and many, many others. The
packaging version prints folding cartons up to 1mm thickness.  

The ‘Right Fit’ for Print Businesses 

Landa Founder, Chairman and CEO
Benny Landa says, “We are delighted by the interest we are receiving for
all our products launched at drupa this year. We brought a broad family of
printing presses to market which are receiving huge levels of interest. Above
all, our Landa S10 Nanographic Printing Press with its B1 format is the winner.  ”It
has the unique ability to print at high speeds with high levels of productivity
and integrate seamlessly into existing print environments. As the only B1 production
level digital printing press on the market, the Landa S10 is receiving enormous
attention and orders. This confirms to us that it is the ‘right fit’ for
businesses large and small who want to increase their profitability on
mainstream print jobs for short and medium-run lengths.”

Link to complete Press Release …..

http://whattheythink.com/news/57969-landa-s10-hit-show/
Top 10 Ideas for Improving Sales Performance

May 10, 2012

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From http://www.saleseffectiveness.com/

1.
Selection – Recruiting and selecting the right
talent needed for each sales position is the single most important skill of
sales management.

2.
Raising
the Bar– Sales and service
improvement is an outcome of deliberate, planned actions over time, at all
levels. “Raising the bar” must be the primary objective of sales and
service leadership.

3.
Sales
Process – Documenting your
sales methodology and Best Practices both for salespeople and sales managers
provides a “Framework of Excellence” for improving your selling system. Once
documented, the sales process drives hiring, coaching, training, and marketing
support efforts.

4.
Change – People change behaviors because they
want to, because the value of change is compelling, and because it benefits
them significantly as individuals. If you want to change selling behaviors,
actively engage your people in the solution. It is their ownership that ensures
long-lasting change.

5.
Measurement is the essential ingredient of process
improvement. Without clear expectations for activity and performance, sales
improvement efforts seldom hit the mark.

6.
Support
Systems including activity
scorecards, technology, pipeline forecasting, territory plans, lead generation
and strategy worksheets provide the tools to implement change. Tool development
is not a one-time effort, but a continuous process of enhancing the tools,
modifying them, and applying them to the business.

7.
Focus
Coaching sustains
excellence and builds employee loyalty. Coaches are the catalysts of team and
individual effectiveness. Their ability to tap and stretch the capacity of each
individual generates power and momentum.

8.
Training is the #1 intervention to communicate
expectations, to stimulate growth, to lift individual performance. It must be a
core practice, consistently applied and customized to fit your organization.

9.
Compensation
and recognition practices
must be aligned to strategy. Alignment creates leverage and increases the
potential to maximize revenues.

10.
Customer
Retention is the ultimate
barometer of success. Its focus is indispensable, and everyone in the
organization must take ownership for their role in adding value and enhancing
the customer experience.

Visit the PDF Library to download this and other professionally
formatted sales training articles and resources.
KIP C7800 PRODUCTION SYSTEM – COLOR AND BLACK & WHITE

May 10, 2012

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I’ve placed in my GoogleDocs
library a file I received from KIP that shows the Manufacturer’s Suggested
Retail Price for this system as well as “cost per sq ft” numbers for b/w CAD
prints, color CAD prints and color POSTER prints.

I’d like to thank KIP for
providing this information to Reprographics 101.

Here’s a link to that file:

http://tinyurl.com/6m3n2a4
Drupa 2012, the Inkjet Drupa…again? My exit interview

May 10, 2012

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This is David Swang’s “wrap-up” of his visit to drupa in Germany –

Here’s the beginning of his article:

Commentary & Analysis

Drupa 2012, the Inkjet Drupa…again?
My exit interview

By David Zwang Published: May
9, 2012

Ok, before I start to get panic
emails… no I have not been sacked, have no plans to retire (unlike Andy
Tribute), and I will continue to write much more detail on the current and
future state of production inkjet (and liquid toner), so stay tuned. However,
after 8 long days of pounding the messe pavement, seeing lots of products and
solutions and lots of friends, it is time to leave drupa. So I wanted to share
some observations.

First of all, there is a healthy
level of excitement here that the industry is recovering from its deep funk,
both economically and spiritually. And while I have spent most of my time
looking at production inkjet and other digital print technologies,
surprisingly, some of the more packed booths were the offset press
manufacturers. Walking, or more like trying to walk through Heidelberg,
manroland, Komori, KBA, etc., was a challenge. I don’t know if people were
buying, but they sure were packed in. And unlike Xerox, they didn’t have a
fabulous Cirque do Soleil show going on, so it had to be for the equipment
shown.

One of the more interesting things surrounding this
drupa is that the ‘digital factory’, or the extension of digital print from
creation and order initiation through finishing is really starting to take
shape.

Here’s a link to the complete article:

http://whattheythink.com/articles/57871-drupa-2012-inkjet-drupaagain-my-exit-interview
Why Pitney Bowes Shares Got Slammed

May 10, 2012

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By Sean Williams , The Motley Fool, Posted 1:30PM 05/08/12

Although we don’t believe in timing the market or panicking over
market movements, we do like to keep an eye on big changes — just in case
they’re material to our investing thesis.

What: Shares of mail processing equipment and mail solutions provider Pitney
Bowes (NYS: PBI) received a stamp of disapproval from
shareholders this morning and fell as much as 10% after the company reported
its first-quarter results.

So what: It really wasn’t as poor a quarter as everyone had expected, but then
again, there’s not much to look forward to nowadays when the U.S. Postal
Service is a large customer of Pitney Bowes. For the quarter, Pitney Bowes’
revenue fell slightly to $1.26 billion from the year earlier while EPS came in
at $0.52. It was a mixed report where revenue failed to live up to expectations, but its adjusted
profit did beat the consensus figure by $0.02. Other than software, all
business segments showed a year-over-year decline in revenue. Pitney Bowes also
left its full-year forecast unchanged and still expects revenue to be in the
plus-or-minus 2% range and EPS to range between $2.05 and $2.25.

Now what: Pitney Bowes has become a total value investors’ stock over the past
few years. Growth in the mail industry has dried up as communication has
switched to a digital platform, making it increasingly hard for Pitney Bowes to
grow its business. In response to this weakened growth, the company has turned
to hefty dividends to keep its shareholders happy. Now the question has become:
Is it really worth suffering through little to no growth to receive just shy
of a 10% dividend yield? With the long-term trend pointing away from standard
mail, I’m inclined to say no and would opt for a REIT or MLP if I wanted the
safety of a yield that large. The days of Pitney as a growth stock are long
gone, and so is my interest in the company.
American Reprographics Co (ARC) – Q1 2012 Results

May 9, 2012

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American Reprographics
Company (ARC) announced its Q1 2012 earnings results yesterday.

The company reported $0.00 earnings per share (EPS)
for the quarter, beating the consensus estimate of ($0.01) by $0.01.

The company’s quarterly revenue was down 2.7% on a year-over-year basis;

Q1 2012 Sales – $103.6 million

Q1 2011 Sales – $106.5 million

American
Reprographics’ CEO Discusses Q1 2012 Results – Earnings Call Transcript

This link will take you to a transcript of the
earnings call that took place yesterday afternoon, shortly after ARC released
its Q1 results:

http://seekingalpha.com/article/572181-american-reprographics-ceo-discusses-q1-2012-results-earnings-call-transcript

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