Industry News
Kornit Digital reports drop in Q2 sales, but remains confident
K
ornit Digital remains ‘laser focused’ despite recording a drop in sales for the second quarter of 2022. For the three months to June 20, 2022, Kornit posted revenue of $58.1 million (£47.5 million). This is down by 29% compared to revenue of $81.67 million (£66.83 million) in the second quarter of 2021.
Looking ahead to the next three months, Kornit expects revenues to be in the range of $66 million to $70 million (£54 million to £57 million) – but still below the record third-quarter figure of $86.7 million (£70.9 million) in 2021. Addressing these short-term challenges, Alon Rozner, Kornit Digital’s CFO, said they are strategically looking at all aspects of the business and
adjusting the cost structure as needed. “Including a recent focused reduction-in-force, while reallocating resources to key growth initiatives and investments in long-term programs that support our customers’ needs,” he added. Ronen Samuel, CEO of Kornit Digital, said: “While the overall operating environment remains challenging, we believe the industry will continue its long-term secular growth, fuelled by the mega-trends we’ve discussed in the past. “We are navigating the current market dynamics by working closely with global brands, retailers and fulfillers to shift production volumes to on-demand, executing on new product introductions and adoption of these innovative technologies, and focusing on returning to profitability.
“Our vision remains unchanged and we remain extremely confident in the fundamentals of the business. With our solid financial foundation and dedicated global team of professionals, we continue to be laser focused on leading the industry’s transformation from analogue manufacturing to sustainable on-demand digital production.” Kornit also announced that Mr Rozner is leaving the company after two years as CFO for personal reasons and will be replaced by Lauri Hanover in November.
Ms Hanover has served on the company’s board of directors since March 2015. She has over 25 years of CFO experience and financial expertise in the software, hardware, consumer goods, and industrials sectors.
GK Marketing Services to distribute KTK screen printing machines K
TK, a manufacturer of high quality screen printing machines, has appointed GK Marketing Services as its distributor for the UK. KTK has manufactured automatic screen printing machines since 2014. The vision of its owners was the result of more than 30 years involved in screen printing and dealing with all the intricacies of their specific machines. KTK products are known globally not only for their highly acclaimed accuracy, durable components, and reliability but more important to make screen printing easier and safer. With a team of resellers and after-sales support that extends to the four corners of the world.
A KTK carousel
KTK distinguishes itself from other brands by creating some of the most practical and efficient machines in the screen printing industry, without sacrificing quality and durability. In fact, KTK machines feature patented technology that makes their stability,
AJS moves to a new premises A
fter a record few years of sales and growth, AJS Embroidery Services moved into a new facility on August 15. The move takes the embroidery machinery supplier 10 miles north up the M1 from Giltbrook to Annesley. The new premises means an increase in space and improved service for customers.
| 18 | September 2022 The new facility
registration and durability, some of the highest found in machines in the market. Nowadays, KTK has a wide catalogue of products, spanning from oval and circular automatic screen printing machines, to tunnel dryers, digital printing modules and essential accessories to the good practice of the art of screen printing.
One of the manufacturer’s more recent developments is the KTK Fusion line, a hybrid printing solution. When combined with a KTK Master Plus machine, any design can become reality. Imagine combining digital with flocking, or even with a foil technique… The possibilities are endless.
www.printwearandpromotion.co.uk
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76
