Total revenues were posted at EUR622.4m, down 8.1 per cent, operating income declined 26.8 per cent to EUR30.4m, while net income was down 18.7 per cent to EUR17.2m.

The strong euro had the effect of depressing revenues and income. However, revenues from machines, software and professional services showed an autonomous increase of 7.9 per cent. This represented a continuation and strengthening of the positive trend shown in the fourth quarter of 2003, says Océ.

Rokus van Iperen, Océ Board of Executive Directors chairman, says, “Net income in the quarter was 19 per cent below the previous year. At the same time it is encouraging to note that Océ has been able to sustain the positive trend shown in the previous quarter.

“Thanks to the success of our new products in particular and to our strengthened focus on marketing and sales activities, non-recurring revenues are clearly showing an upward trend. We also expect recurring revenues to pick up in due course.”

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