Indigo has said that despite making a second-quarter loss it remains confident of returning to profitability by the end of the year.


The firm reported its highest-ever revenues for the second-quarter at 34m ($48m), up 18% on the same period last year. However, it made an operating loss of 1.9m, although this was an improvement on last years loss of 4.1m.


"The economic slowdown had a minor and anticipated impact on Indigos post-sales business during the second quarter, and we will continue to closely monitor all market indicators," said Indigo chairman and chief executive Benny Landa.


"We are staying on course for the full year, including revenue growth of about 20%, and an objective of achieving sustainable profitability by the end of the year."


The company said that shipments of equipment for the period were at an all-time high at 20m, with the entire spectrum of Indigos product range performing well. Post-sales revenues, which included consumables and service, increased 18% to 16m.


Indigo chief financial officer Alon Bar-Shany said: "This is the 16th quarter in a row that our operating revenues have grown compared with the same quarter in the previous year. Our indirect sales channels had a strong quarter, including revenues from our OEM relationship with HP."


Indigo has also increased investment in research and development by 40% to 5.2m.


Looking ahead, the firm expects strong sales of the Platinum, its replacement for the TurboStream, which starts shipping in the third quarter (PrintWeek, 27 July).


It also expects to install the first beta test units of its Publisher and Photo-e-Print machines in Q3.


Story by John Davies