Xerox Releases Fourth-Quarter and Full-Year Results

Breaking new ground, Canon U.S.A., Inc., a leader in digital imaging solutions, announced a new web-fed inkjet press for commercial and business communications print service providers with the ProStream 3160, the new flagship model of the ProStream 3000 series, that can help bring quality and productivity to inkjet printing for commercial markets, direct mail, and publishing, among others. The ProStream 3160 is an ultra-fast roll-fed 4/4 inkjet press that can deliver up to 525 feet per minute (160 meters per minute). With the new ink set, the ProStream 3160 boasts 100% productivity increase when printing on 12 pt media and up to a 66% productivity increase on 9 pt media compared to previous ProStream models. This press is market changing and shows Canon’s commitment to the evolution of this ProStream 3000 platform.

TC Transcontinental announced that it has developed an innovative leaflet for Montréal that will reduce the volume of paper from flyers by nearly 60% and eliminate plastic entirely. This new product is a thin leaflet folded in four that combines flyers from various retailers into a single printed product with a limited number of pages. It will be accompanied by a digital platform that will include a wider set of promotional offerings for consumers. “Our new solution for Montréal is designed to meet the evolving needs and expectations of consumers and retailers, maintain healthy competition on prices, and bring environmental benefits exceeding the City of Montréal’s stated source reduction objectives,” said Patrick Brayley, Senior Vice-President, Premedia, Distribution and In-Store Marketing at TC Transcontinental. “Research shows that most consumers continue to rely on printed flyers to plan their visits to local stores. Flyers help Montrealers fight inflation and save up to $1,500 a year. We have paid close attention to the dialogue surrounding our offering in recent years and trust this innovation, together with our new digital platform, will deliver on the expectations of all stakeholders.”

Total revenue for the three-month period ended March 31, 2021, was $53.6 million, representing an increase of 2.3% from the equivalent quarter of 2020. Revenue from the envelope segment was $38.3 million, representing a decrease of 2.3% or $0.8 million, from $39.1 million in the equivalent quarter of 2020. Revenue from the packaging and specialty products segment was $15.3 million, an increase of 15.6% or $2.0 million, from the corresponding quarter of 2020. EBITDA increased by 22.1% to $9.4 million in the first quarter of 2021, up from $7.7 million in the first quarter of 2020. Net Earnings were $4.1 million (or $0.15 per share) for the three-month period ended March 31, 2021, compared to $2.6 million (or $0.09 per share) for the equivalent period in 2020.