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 user 2009-01-12 at 3:30:03 pm Views: 59
  • #21199

    Dutch printer maker Oce profits down 98 pct
    AMSTERDAM, Netherlands — Dutch printer maker Oce NV said Monday its earnings plunged 98 percent in the fourth quarter, as business slowed sharply amid the global economic downturn, and said it would seek to cut costs.

    Oce, a major maker of printing systems for professional printers, was the first Dutch blue chip company to report quarterly earnings in what is expected to be a grim earnings season.Net profit was euro700,000 ($938,000), down from euro36.1 million in the same period a year earlier.Sales were down 4.3 percent to euro802 million.The company’s Chief Executive Rokus van Iperen said the company’s business was “severely” affected by fallout from the financial crisis.

    To cut costs and maintain market share, Oce will “seek partnerships” and try to outsource more of its sales to third parties, Van Iperen said.Oce will also try to generate extra cash by selling real estate, reducing inventories and payments due from customers, he said in a statement.Shares fell 6.5 percent to euro3.17 in early trading in Amsterdam.