March 27, 2014 |
Four business leaders with ties to the region have declared themselves "Champions of Change," willing to advocate to increase the number of women on corporate boards. "All of these people have records of being active proponents of gender diversity" in their individual organizations, said Vicki Kramer, president of the Thirty Percent Coalition, a national group organizing the champions initiative. "This brings them together in a public way to exercise their collective clout and influence their peers," she said.
June 25, 2010
Armstrong World Industries said on Friday that it named Matthew J. Espe as the Lancaster flooring maker's new chief executive officer and president. Espe, 51, replaces Michael D. Lockhart, who stepped down in February and had led the company for 10 years. Espe has been head of Ricoh Americas Corp., and was chairman and CEO of Ikon Office Solutions Inc. before that business was acquired by Ricoh Co. Ltd. of Japan in 2008. Before he joined Ikon in 2002, Espe was president and chief executive officer of GE Lighting.
August 28, 2008 |
Ricoh Co. Ltd., a Japanese manufacturer of printers and photocopiers, has agreed to buy Ikon Office Solutions Inc., of Malvern, for $1.6 billion. The deal, announced yesterday, fits with the trend of copier manufacturers' buying distributors of their products to get closer to customers. The proposed sale marks a major turning point for Ikon, which traces its roots to the former Alco Standard Corp., a classic 1960s conglomerate, whose spin-offs include drug wholesaler AmerisourceBergen Corp.
January 25, 2008 |
It has been a rough year for Ikon Office Solutions Inc., and yesterday's earnings report for the first quarter of the company's fiscal year didn't make it much better. Revenue was down slightly, earnings were down 45 percent, 350 layoffs are imminent, and flat revenue is likely for the rest of the year, the company said. In addition, the Malvern company must now return to court to face antitrust allegations that some of its service contracts stymie competition. Ikon, a global company, sells and services document-management systems and equipment, including printers and copiers.
November 27, 2007 |
Shares of Ikon Office Solutions Inc. settled down yesterday after last week's wild ride up on Wall Street. Last Wednesday, the stock, buoyed by news of the Malvern company's plan to repurchase $500 million worth of its stock, rose 17 percent, or $1.76, from Tuesday's close of $10.62 - its lowest in nearly two years. Trading that day was heavy as 3.3 million shares changed hands - more than five times the normal volume. The stock rose an additional 29 cents Friday, but fell 27 cents yesterday to $12.40 in trading that was more than double average daily volume.
October 26, 2007 |
Investor Warren G. Lichtenstein's name never came up during the fourth-quarter and full-year earnings conference call held yesterday by Ikon Office Solutions Inc., but his recent activity with the copier and document-management company colored the occasion. For the year ended Sept. 30, the Malvern company reported a 15 percent increase in net income to $114 million, or 91 cents a share, despite a 1.4 percent decline in revenue to $4.2 billion. Fourth-quarter income was 23 cents per diluted share, or $28 million, up 15 percent from the yerar-ago quarter.
June 30, 2007 |
Warren G. Lichtenstein, an activist investor whose takeover bids have been putting Japanese noodles companies in a twist and terrifying its sauce manufacturers, now wants Ikon Office Solutions Inc. to buy back its stock at a premium or be prepared to sell itself. "We believe the company is ideally situated for an outright sale," said the letter to Ikon from Lichtenstein's company, Steel Partners II. Not only that, but Steel is ready - with financing - to participate in the sale, the letter said.
April 28, 2006 |
Cutting costs and phasing out of losses from discontinued businesses allowed Ikon Office Solutions Inc. to improve its bottom line in the second fiscal quarter despite a slide in revenue. Revenue at the Malvern company that distributes copy machines and manages documents fell slightly to $1.08 billion in the quarter ended March 31 from $1.09 billion in the same quarter a year earlier. Excluding currency fluctuations, the revenue was flat, the company said yesterday. However, its earnings per share of 19 cents were higher than the 14-to-16-cent range it had forecast.
January 27, 2006 |
The problem with the copier business is that copy machines and high-end, high-production in-house document systems aren't as complicated as they used to be. And that has been reflected in the results of companies such as Ikon Office Solutions, which yesterday reported a decline in revenue but a banner first quarter on the profit side. Like computers, copiers have become a commodity, with what used to be gee-whiz bells and whistles now standard equipment. Yesterday, Matthew J. Espe, Ikon's chairman and chief executive officer, talked about how the Malvern company's first-quarter results reflected its strategy for dealing with the pressures of a changed industry.
March 2, 2005 |
Ikon Office Solutions Inc., the long-troubled distributor of office copiers and printers, said yesterday that it would cut 1,500 jobs in North America and consolidate operations to boost profit. These actions, the Malvern company said, will cut costs and sharpen its business focus. The additional steps announced yesterday include eliminating one of its business units, selling virtually its entire Mexican operation, and consolidating management and field offices. In the near term, however, the moves will cost the company up to $52 million, or 25 cents per diluted share.