Inkjet & Digital Printing
Océ reports improved results Highlights fourth quarter (ended November 30, 2010):
Thursday 27. January 2011 - Total revenues + 5% to 715 million (2009: 683 million) Organically, non-recurring revenues + 1%; recurring revenues ? 2% Normalized operating income doubled to 29 million (2009: 14 million) One-off items of 36 million impacted net income Phase in of Canon product portfolio completed Change of fiscal year, effective January 1, 2011
Comments by Rokus van Iperen, Chairman of the Board of Executive Directors:
‘It is encouraging that we have improved our normalized operating income for the third consecutive quarter. Our bottom line was impacted by substantial customary one-off items.
Profitability improved, due to better utilization of our plants and the results of our cost savings program. Customers continued to be cost conscious amidst ongoing economic uncertainty, but revenue development improved versus the trend of previous years.
Certain markets showed clear signs of recovery. Revenues in continuous feed improved, benefiting from printer sales, particularly of the Océ JetStream series. Wide format revenues showed recovery, mainly driven by printer sales in the display graphics markets. Revenues in business services increased marginally, mainly due to growth in North America.
As of the third quarter 2010, we started selling Canon office printers, first in the US, followed shortly thereafter in Europe. Now, we offer Canon products to our customers worldwide.
In the quarter, we successfully participated in the prominent Canon Expo held in New York, Paris and Tokyo. At the Expo in Tokyo, we launched an innovative digital color continuous feed system, the Océ ColorStream 3500. This very high volume inkjet printer was developed at our German technology plant and enables Canon and Océ to serve commercial printing companies wishing to offer both analogue and digital color printing systems. This year too, we will participate in the Canon Expo to be held in Shanghai in May 2011.’