EFI Expands Portfolio of Innovation for Sign and Display Graphics with New VUTEk Q3h XP and EFI Pro 33r Printers

Net sales in the third quarter of 2017 were $329.5 million compared to $382.7 million in the same period last year, a decline of 13.9%. The Company generated net sales of $1.01 billion for the nine months ended September 30, 2017, compared to $1.16 billion for the same period last year, a decline of 13.1%. The sales decline for both the three and nine month periods was primarily driven by: (i) lower sales in the envelope segment, primarily due to lower direct mail demand primarily from our financial institution customers and lower demand in our wholesale and generic transactional envelope product lines primarily due to marketplace trends; (ii) lower sales volumes in the commercial print group and the publisher services group, primarily driven by lower customer demand and continued pricing pressures; and (iii) lower sales in the label segment, primarily due to the decision to exit our coating operation which was completed in the second quarter of 2016, and lower sales driven by customer demand and product mix changes. Operating loss was $0.5 million for the three months ended September 30, 2017, compared to operating income of $20.2 million in the same period last year. Operating income was $22.6 million for the nine months ended September 30, 2017, compared to operating income of $51.9 million for the same period last year, a decline of 56.5%. The decline during the three months ended September 30, 2017 was primarily due to lower gross profit resulting from lower sales volumes and intangible asset impairments of $7.7 million driven by our current and expected future operating results for certain product lines. The declines in the nine months ended September 30, 2017 were primarily due to lower gross profit resulting from lower sales volumes, the impact of the decision to exit the coating operation, intangible asset impairments of $7.7 million driven by our current and expected future operating results for certain product lines, and higher restructuring and other charges resulting from the 2017 Profitability Improvement Plan. Click Read More below for additional information.

Quad/Graphics, Inc. has been named one the world’s 25 largest agency companies, as determined by Ad Age, the global publisher of news, analysis, and data on marketing and media. This is the third consecutive year that Quad has been included in the list. Contending in a highly competitive field, Quad ranked No. 16 on the list of top 25 agency companies and No. 22 among the world’s top 25 consolidated agency networks. Periscope, a fully integrated creative agency, and Rise Interactive, a top performance marketing agency, are wholly owned by Quad and are part of the company’s comprehensive agency services.

Ricoh USA, Inc. announced that Kingery Printing Company, a Midwest family-owned and operated printing and mailing solutions company, installed the first RICOH Pro VC80000 continuous feed inkjet book printer in North America. The RICOH Pro VC80000 launched in November 2023 on the heels of the RICOH Pro Z75 cut-sheet inkjet press and is the newest addition to Ricoh's inkjet portfolio. Leveraging AI, the press enables commercial, book, and direct mail printers to experience a new standard for inkjet quality, productivity, and media flexibility to expand their competitive edge and profitability. Kingery Printing Company, founded in 1968, has grown to 200 team members with facilities located in Effingham and Mattoon, Illinois. Kingery serves publishers throughout the country in the book, catalog, and magazine market segments.