The ink-jet printing developer turned last years 470,000 ($800,000) net loss into a profit of 3m. Revenues of 42.2m were 24% higher than this time last year.

President and chief executive Nachum Shamir was very excited by the return to profitability.

Operating income trebled to 3.6m, with other income including a gain of 2.1m from the sale of its remaining shares in Creo.

Scitex Digital Printings revenues rose 29% to 26.5m and its operating income from 200,000 to 3.1m.

Revenues at Scitex Vision rose 16.6% to 16m, but its operating income before amortisation dropped 35% to 800,000.

In October, a lawsuit for almost 2m was filed against Scitex, Scitex Vision and others by CDI Technologies, relating to the merger of Scitex Vision and Aprion (PrintWeek, 8 November 2002).

The lawsuit claims that CDIs rights as a Scitex Vision minority shareholder was prejudiced. Scitex and Scitex Vision plan to defend the lawsuit.