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Creo Preliminary Q1 Results Exceed Expectations on Revenue and Profit

Press release from the issuing company

VANCOUVER, British Columbia--Jan. 20, 2005-- Creo Inc., announced today preliminary financial results for the first quarter that ended December 31, 2005, reported in U.S. dollars. Based on preliminary financial data, Creo is increasing its revenue and earnings forecast for the first quarter of 2005. The company now expects total revenue in the range of $174 to $175 million, representing the highest quarterly revenue in the company's history. GAAP earnings are expected to be 8 to 10 cents per diluted share. GAAP earnings include 1 cent per share of intangible asset amortization and 2 cents per share of restructuring costs, offset by a higher than usual financial gain from the impact of foreign currency on net monetary assets of 3 cents per share. Today's updated guidance compares to that given on November 17, 2004 of revenue between $165 million and $170 million and earnings per diluted share between 0 and 4 cents per share, after approximately 2 cents per diluted share in restructuring costs and 1 cent per diluted share of intangible asset amortization. The company emphasized that the results are unaudited and preliminary, and its actual results may vary, perhaps materially. Creo will provide further information about the quarter when the final results for the first quarter of 2005 are reported on Thursday, February 3, 2005.