The company is closing its North American headquarters in Boston and will relocate the function to its Vancouver office in Canada.
Almost 150 staff will be affected by the move, with approximately 80 roles moved to lower cost locations and some 60 positions phased out altogether. Chief financial officer Mark Dance said the restructure would create savings of just over 1m per quarter by the middle of next year.
Chief executive Amos Michelson said: "We should not let these short term issues distract from some real successes this year. Drupa was a big step for us in the digital media business. We exceeded the sales goals set for the show on the software and equipment side, but we were even happier with success for thermal consumables."
Sales in the three months to June 30 were up 8.8% on 2003, but slipped slightly on the previous quarter with Drupa pinpointed as the reason for delayed orders in the EMEA region, where sales fell 6.5%. Consumables revenues jumped 23% on the previous quarter to just under 12m, an increase of 77.5% year-on-year.
Gross margin slipped 2.5% year-on-year to 42.7% and was affected by the "currently low utilisation of the new plate manufacturing plants", although Dance said this would "improve dramatically" over the next six months. Low margin conventional plate business also impacted the figures.
Creo has also begun a complete review of its cost structure.
The firm's shares fell 7.7% to $8.47 on the news.