Wednesday, May 9, 2012

Why Pitney Bowes Shares Got Slammed


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


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:


Tuesday, May 8, 2012

The New Liquid Toner Generation (reporting from drupa)


FROM AN ARTICLE ON WHATTHEYTHINK.COM
Commentary & Analysis
The New Liquid Toner Generation
By Andrew Tribute
 Published: May 8, 2012
THIS IS THE BEGINNING OF ANDY’S ARTICLE….
While most of the attention at drupa has been concentrated on the subject of B2 sheet fed inkjet presses, and also on the impact of Benny Landa’s new Nanographic Printing Process, there has been another major development that has stayed somewhat under the radar. This is the arrival of a new generation of liquid toner based digital printing technology. In digital electrophotographic (toner based) printing most presses use dry toner, and of the mainstream presses only HP Indigo uses liquid toner technology. The benefits of liquid toner technology are its ability to go very fast plus its high quality of output. In the HP Indigo implementation there are however some limitations in terms of the environment and the manner in which it operates that restricts its speed of operation.
At drupa however HP Indigo is one of the stars of the show with its launch of its series three HP Indigo 10000, 20000 and 30000 presses. The HP Indigo 10000 has already established a commanding lead in terms of order commitments in the B2 sheetfed digital press market. I am sure it will maintain this lead when it comes to installations when it becomes available during the course of next year.
There have however been announcements of other liquid toner press technologies that I feel will move digital printing technology forward in a way that I do not see HP Indigo going. These new technologies are from Océ and Xeikon. Of these only Xeikon is showing at drupa. I had the privilege of being invited during drupa to Océ’s headquarters in Poing, Germany to see what they are doing, this being the InfiniStream technology. Océ decided not to show at drupa as the market for InfiniStream is the high quality folding carton market . The company believed it better to go directly to the brand owners and large packaging printers rather than showing the product to the general commercial market. 
Xeikon is still in an early stage of development of its Trillium technology and only showed a limited demonstration of it as drupa. Both Océ and Xeikon are targeting late 2013 for first product installations.

HERE’S THE LINK TO THE COMPLETE ARTICLE….

Monday, May 7, 2012

Nanographic Printing Presses


Landa's Breakthrough Nanographic Printing Presses

Thursday, May 03, 2012
Press release from the issuing company

Landa Corporation today announced the details of its groundbreaking Landa Nanographic Printing Presses that are set to transform mainstream commercial, packaging and publishing markets. With output speeds comparable to offset presses and employing NanoInk colorants that create unprecedented image qualities, the Landa Nanographic Printing Press portfolio is set to fundamentally change printing as we know it.

Landa Founder, Chairman and CEO Benny Landa says, "Nanography is a new technology for applying ink to paper. In developing Landa Nanographic Printing we had to re-think and reinvent the printing press. The result is digital printing with remarkable performance - from a family of presses that share stunning ergonomic design, a small footprint and some of the most advanced user functionality available in the market."

Landa Nanographic Printing Presses
At drupa 2012, Landa is unveiling a family of six Nanographic Printing presses - three sheetfed and three web presses - that enable print providers to produce short-to-medium run lengths at unmatched cost-per-page.

Each of the three sheetfed presses can print in up to eight colors and can use spot and specialty colors for a range of applications including general commercial printing, marketing collateral, medium-run books and manuals, direct mail and short-run folding cartons:
  • The Landa S5 Nanographic Printing Press is a B3 (20 in.) entry-level press for fast and easy transition to digital production. The Landa S5 can print single-side at speeds of up to 11,000 SPH on any off-the-shelf media (60-350 gsm).
  • The Landa S7 Nanographic Printing Press is the most productive B2 (29 in.) digital production press on the market. It is capable of single- or double-sided printing at speeds of up to 12,000 SPH on any off-the-shelf media (60-350 gsm).
  • The Landa S10 Nanographic Printing Press is the market's first B1 (41 in.) digital production press. It is able to print single-side or double-side at up to 13,000 SPH on any off-the-shelf stock (60-400 gsm). A straight printing (simplex) model for folding carton operates at up to 6,500 SPH on virgin and recycled carton board, metalized stock (200-1000 micron thickness) and plastic foils.
The three web presses can print in up to eight colors and are aimed at commercial printing, publishing, labels, and flexible packaging:   
  • The Landa W5 Nanographic Printing Press is a 560 mm (22 in.) web width press capable of single-sided printing at up to 200 m/min (656 ft/min) on plastic films and shrink sleeves (12 to 250 microns) and on label stocks, tube stocks,aluminum foil and paper (50 to 300 microns).
  • The Landa W10 Nanographic Printing Press is a 1,020 mm (40 in.) web width press, capable of single-sided printing at up to 200 m/min (656 ft/min) on film stock (12-250 microns) and on paper (50-300 microns). As Landa NanoInk will be FDA-compliant for food packaging, the W10 should be of interest to mainstream packaging converters.
  • The Landa W50 Nanographic Printing Press is a 560 mm (22 in.) web width press for high-volume, digital production and is capable of double-sided printing at up to 200 m/min (656 ft/min) on any coated or uncoated paper (40-300 gsm). It is ideally suited for publishing books, magazines, periodicals, annual reports, journals, directories, manuals, direct mail with personalization and versioning... and more.
"Landa Nanographic Printing Presses are intended not to replace offset printing, but to complement it. For the foreseeable future, offset printing will continue to be the preferred method for producing run lengths of tens of thousands or hundreds of thousands," says Benny Landa. "But the market is demanding shorter and shorter run lengths - and that's where Nanography comes in - to enable print service providers to produce those short to medium run lengths economically - at offset speeds. That's what we mean when we say that Landa Nanographic Printing brings digital to the mainstream."

The Nanographic Printing Process
At the heart of the Nanographic Printing process are Landa NanoInk colorants. Comprised of pigment particles only tens of nanometers in size (1 nanometer is about 100,000 times thinner than a human hair), these nano-pigments are extremely powerful absorbers of light and enable unprecedented image qualities. Landa Nanographic Printing is characterized by ultra-sharp dots of extremely high uniformity, high gloss fidelity and the broadest color gamut of any four-color printing process.
Nanographic Printing begins with the ejection of billions of microscopic droplets of water-based Landa NanoInk onto a heated blanket conveyor belt. Each droplet of aqueous NanoInk lands at a precise location on the belt, creating the color image. As the water evaporates, the ink becomes an ultra-thin dry polymeric film, less than half the thickness of offset images.

The resulting image is then transferred to any kind of ordinary paper, coated or uncoated, or onto any plastic packaging film - without requiring pre-treatment. The NanoInk film image instantaneously bonds to the surface; forming a tough, abrasion-resistant, laminated layer that doesn't leave any residual ink on the blanket.

Since NanoInk images are already dry, there is no need for post drying. Doubled-sided printing becomes simple and printed goods can be immediately handled, right off the press, even when using the most aggressive finishing equipment.

Unique Graphic User Interface
The stunning new design of the Landa Nanographic Printing Press features the Landa Touchscreen, an oversized user interface that enables even an untrained operator to quickly master the press. Press controls appear both on the left and right sides of the screen to allow convenient operation from either the feeder or delivery end of the press.

The right side of the display is dedicated to job management. Here, the operator can easily organize the optimum job sequences for maximum press utilization aided by one of the many built-in job management tools. The left side of the touchscreen is dedicated to press functions. Real time graphics show the status of all press functions and stream live video images of each of the key stations including sheet feeding, image transfer and sheet delivery. Every function, such as ink levels, paper supply, and operational status, are clearly and intuitively displayed.

Due to the high degree of automation on Landa Nanographic Printing Presses, a single operator can manage two, three or even four presses at a time. When the operator leaves the press, the display switches to Vital Signs Mode, in which key indicators are presented in large fonts that can be easily read from 50 meters away. In addition, the entire user interface is duplicated on a portable touchscreen tablet that can be magnetically attached to the press at any convenient location.   

Drupa 2012, the Inkjet Drupa…again? Initial notes from the field.


David Zwang of whattheythink.com is at the drupa show in Germany
Here’s an article that contains his notes for his first day at drupa.

Commentary & Analysis
Drupa 2012, the Inkjet Drupa…again? Initial notes from the field.
By David Zwang
Published: May 4, 2012

The Landa Nanoprint introduction was impressive in its presentation and its promise of some interesting things to come. While it is an inkjet technology, it also looks a bit like Indigo v2.

Read the complete article at this link: