Xerox recorded revenue of $US1.79 billion for second quarter 2021, an increase of 22.4% from second quarter 2020, with net income up $US64 million. Ricoh’s first quarter sales of ¥424.8 billion ($A5.2bn) were up 20.6% compared to the previous corresponding period, when the spread of COVID-19 led to a sharp decline in global economic activity.
“During the second quarter 2021, our business continued to be impacted by the pandemic,” Xerox said in a statement. “However, we saw a continued gradual recovery of our revenues in the quarter as businesses gained confidence in the control of the pandemic and as a result invested in new printing technology and services.
“We expect that measures to control the pandemic and expand economic activity will result in a moderate economic improvement in 2021. However, in the near term, the recovery may be uneven and affected by the emergence of new variants of the COVID-19 virus which could result in a resurgence of cases in various countries and regions.
“Cash flows provided by operating activities for the six months ended June 30, 2021 were $331 million, as compared to $207 million in the prior year period, which includes the receipt of an upfront prepaid fixed royalty from FUJIFILM Business Innovation Corp. (formerly Fuji Xerox) (FX) of $100 million, partially offset by a lower run-off of finance receivables and cash from working capital, net2.
“We continue to expect a modest recovery in 2021 and expect full year total revenues to increase to at least $US7.2 billion, or approximately 2.5%, excluding the impact of currency."
Ricoh
Sales for the Ricoh’s first quarter (April 1 - June 30, 2021) increased by 20.6% to ¥424.8 billion compared to the previous corresponding period (pcp). “Gross profit increased by 24.8% compared to the pcp to ¥152.3 billion due to an increase in sales in each business segment," Ricoh said. "Operating profit increased by ¥26.9 billion compared to the pcp, to ¥5.6 billion.
“The global economy continues to be hampered by COVID-19 pandemic. In addition, the economic outlook remains uncertain due to prolonged U.S.-China trade frictions, shortage of semiconductors and other supplies, and stagnation of shipping and other distribution networks.
“In Japan, the economic recovery was sluggish due to factors such as the declaration of emergency to prevent the resurgence of infection, although there were signs of improvement in capital investment by companies. In the U.S., the economy continues to recover in line with the spread of vaccines and financial support measures. In Europe, although there are signs of recovery due to the progress of vaccination, economic recovery has slowed due to the resurgence of COVID-19 pandemic. In other regions, while economic recovery is progressing in China, economic activity has stagnated in some emerging countries due to the resurgence of infection with a new variant of COVID-19.
“Our business activities have recovered in a number of other business, including the commercial printing business and the industrial printing business. In line with the introduction of the business unit structure, the new business segment adopted in the fiscal 2021, namely Digital Services, Digital Products, Graphic Communications, and Industrial Solutions, posted a significant increase in revenues."
Digital Products [Production and OEM of MFPs (multifunctional printers), laser printers, digital duplicators, wide format printers, facsimile machine, scanners, network equipment, and related parts & supplies]:
"Sales were ¥3.3 billion and increased by 13.9% as compared to the previous corresponding period. Sales of edge devices and consumables increased due to a recovery in economic activity in spite of a shortage of semiconductors and other components and a stagnant distribution network. Despite the impact of rising shipping costs and other factors, in addition to an increase in gross profit due to increased sales, we are making steady progress in improving operating profit through cost-cutting measures to strengthen our business structure, such as streamlining development and consolidating production bases. As a result, Digital Products operating profit was ¥9.0 billion and increased by ¥10.7 billion as compared to the previous corresponding period."
