Israel’s digital inkjet printing solutions company Scitex recorded an 11 percent increase in revenues for the fourth quarter of 2002, reaching $65.6 million from $59.1 million in the fourth quarter of 2001.
Revenues for the fiscal year 2002 were $242.8 million, a decrease of five percent from $256.2 million in 2001. Operating income for 2002 was $5.4 million before amortization of intangibles. Net loss was $32 million, of which $22.3 million associated with the write-down of Scitex's holding in Creo and $4.1 million associated with equity losses on investments in Objet Geometries and Jemtex Ink Jet.
Geographically, the Americas contributed 40 percent of the yearly revenues, followed by Europe with 37 percent of revenues, and the Far Eastand rest of the world with 23 percent of revenues.
Scitex Corporation is a digital industrial inkjet printing solutions provider. Through its subsidiaries and strategic investments, Scitex strengthens its market position in this specialized sector. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
