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Océ reports net loss and improved printer sales

Press release from the issuing company

Highlights third quarter (ended 30 September 2011):

• Total revenues: € 621 million organically in line with prior year
• Organically: non-recurring revenues + 5%, recurring revenues - 2%
• Normalized operating income: € 1 million (2010: € 22 million)
• Net loss: € - 22 million (2010: € 8 million)
• Successful launch major new joint Canon-Océ technology and printers

Comments by Rokus van Iperen, Chairman of the Executive Board:

'Third quarter printer sales improved over the previous year thanks to our comprehensive product range and a recovering supply chain. Despite increased printer sales we need to significantly improve our bottom line. Therefore we will continue to carry out measures to mitigate the ongoing challenging conditions. These include a continuous ramping up of the production of new machines, intensifying marketing and sales efforts and ongoing stringent cost control.

Reviewing the third quarter our printer sales improved. Production of continuous feed printers such as the Océ ColorStream 3500 system was ramped up and sales developed favorably. After having completed their learning phase in the first half of 2011, our sales force increasingly sold Canon printing systems connected to Océ software solutions. Overall construction and engineering markets remained weak in the USA and Europe, impacting wide format printer sales.

During the quarter, jointly with Canon, we have launched the Océ DirectPress technology as well as new black & white and color productive printers. These new products have been developed by the combination. In addition Océ participated in the kick off of an open innovation center, where corporations and knowledge institutes jointly will develop new document services. This is fully in line with our commitment to leveraging the opportunities of the growing document services markets.'



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