In the third quarter, NUR made revenues of 13.14m ($20.9m) a slump of 33% on the same period last year. Net loss for the period was 754,400, compared to a net profit of 52,200 in the third quarter of 2001.

The figures took the companys revenues for the first nine months of the year to 41.3m a decrease of 28% on the first three quarters of last year. The firms net loss for the year to date stands at 4.4m compared to a net loss of 4.08m.

NUR Macroprinters chief executive Erez Shachar said that he believed in the companys ability to manage its resources and expenses during what were tough times. He added that the company was working to bolster its performance in the Asia-Pacific region.

As PrintWeek went to press, NURs share-price on the Nasdaq had risen from a low of 41p to 45p.