Wide-format printer manufacturer NUR has issued a profit warning following lower than expected sales in the US.
The firm said it expected to break even for the first quarter 2001 before taking account of a one-off 1.75m ($2.5m) restructuring charge.
"Our sales in the US have been strongly affected by the current economic uncertainty," said president and chief executive Erez Shachar. "We continue to witness growth in other regions." Sales are expected to be up 44% on last year at 22m.
It is cutting its costs to reflect the slower growth, but continues its planned investments in R&D, servicing, training and quality control. "This situation is only temporary and does not reflect a structural change in our industry," said Shachar.
Have your say in the Printweek Poll
Related stories
Latest comments
"Been there too!"
"Very True"
"Customers expect quality as a basic requirement so quality is no longer a selling point as its a given. Similarly so, accreditations are a nice to have and show customers that you are committed but as..."
Up next...
50 accredited partners offering GGS loans
Guaranteed Growth Scheme receives extra £500m as tariffs bite
Flatter and streamlined organisation
Stora Enso restructure to reflect renewable packaging importance
Took over in the role on 1 April
Paul Brough becomes Mail Users’ Association chair
Birmingham's Marco Pierre White restaurant