GretagMacbeth Earnings Down, Expects Tough 2001
Tuesday, January 30, 2001
January 30, 2001 - The GretagMacbeth Group, a worldwide leader in color management systems and software, reports an 18.7% increase in consolidated revenue for 2000 to CHF 130.4 million (1999: CHF 109.8 million). Digital Imaging continued to perform well, achieving a 2000 revenue growth rate of 18.5% over 1999. The Visual Products category exceeded expectations and grew 21.3%. Color Data Products revenue experienced a 18.2% increase over prior year. Growth rates by geographic markets were: Europe 20.4%, Americas 7.8%, and Asia 39.3%. Unexpected startup costs for multiple new products, investments in expanding our market coverage into global accounts, and increasing price pressure in some mature product areas will yield earnings results in 2000 that are below expectations. It is expected that market conditions in North America will continue to put pressure on our sales volume in 2001. Management is taking a number of actions to protect and grow GretagMacbeth's earnings performance going forward. The presentation of the annual results of the Group for 2000 and an outlook for the current year is scheduled for March 20, 2001.