Scitex revenue dips after poor digital showing

News by

21 November 2002

A poor showing from Scitex Digital Printing (SDP) has hampered parent Scitexs third-quarter results, although it expects the business to have a stronger fourth quarter.

Scitexs revenues for the period were down 13% to 36.3m ($57.7m).

The company made a net loss for the quarter of 480,000 compared to a net loss of 26m for the third quarter of 2001. The 2001 figure included a 24.4m charge relating to its share in Creo. Now that 12.7% stake is up for sale, fluctuations in Creos stock price no longer show in Scitexs results.

SDP revenues fell 17% to 21.8m, while its operating income fell by 50% to 244,600. Revenue at wide-format division Scitex Vision, which the firm is preparing to merge with Aprion, were down 8% to 14.5m.

Scitex president Yeoshua Agassi expected SDPs revenues to improve by 6.3m in the fourth quarter. For the nine months to September the companys revenues were 11% lower than last year at 70.7m.

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