Nur chief financial officer David Seligman said: "We faced some pricing pressure in our printer markets as our main competitor reduced prices by up to 40%."

Vutek launched a low-cost version of the PressVu flatbed ink-jet in April.

Nur revenues for the quarter were up 16% year-on-year at 10.9m, but down 3% on the second quarter.

The firm is currently negotiating waivers from banks for non-compliance with financial covenants. If the banks refuse, the firm faces a short-term debt of 23.3m.

Seligman added that he expects the launch of Nur's 5m-wide Expedio to improve margins and return the company to profitability in the fourth quarter.