The firm posted revenues of 464m (EURO 740m), down 6% on the same time last year, while net income for the quarter fell 1% to 13.2m.

Ocs revenues for the first nine months of the year were down 0.5% on last year at 1.48bn, but net income for the same period was up 0.5% to 46.8m.

Sales of machines in the firms Production Printing Systems division, including the CPS 700, were down 25% so far this year, but were compensated for by increased revenues from software and services, leading to a 4% decrease in sales at 354.1m.

The Wide Format Printing Systems division increased revenues by 4% to 434.3m.

Oc UK managing director Mike Cornish would not disclose the companys figures for the UK, but said that he was "optimistic" by the companys performance.

"We have made positive moves. Our high-speed trade is having a good year and wide-format is performing solidly," said Cornish.

-Oc has celebrated its 125th anniversary by giving its 23,000 employees around the world five shares each.

Story by John Davies