The company expects to report a net loss of around 530,000 ($750,000) on revenues of 20m. Net income excluding one-time charges would be 105,000, it said.

But chief executive Erez Shachar said that during 2002 NUR anticipated the continuation of the migration from conventional print technologies to wide-format digital printers.

The news came as it completed a 5m private placement with the Investment Corp of United Mizrahi Bank (UMB) to buy NUR ordinary shares.

Arie Zief, chairman of the Investment Corp of UMB, said: "We respect the strong leadership shown by NURs management during these difficult economic times."