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OCE-VAN DER GRINTEN N.V. FISCAL 1993 PRELIMINARY RESULTS

 VENLO, The Netherlands, Jan. 7 /PRNewswire/ -- Preliminary results for the fiscal year, ended Nov. 30, 1993, were reported here today by Oce-van der Grinten N.V. (NASDAQ: OCENY), the Dutch copying equipment group. Oce supplies the world office systems and engineering systems copying markets.
 In a New Year's message to employees, Oce's Chief Executive Officer, Harry Pennings, announced that 1993 net income is expected to total some US$32 million (US$1 equals NLG 1.9267, the noon buying rate of Nov. 30, 1993), a decrease of 29 percent from the 1992 net income of US$45 million. During the fourth quarter, net income went up by about 25 percent to more than US$10.9 million.
 1993 revenues went down 5 percent to some US$1.3 billion. Excluding exchange rates, revenues decreased 2 percent. In the fourth quarter, revenues were at the same level as last year (about US$350 million), with exchange rates having a negligible impact.
 In the final quarter of 1993, results recovered strongly compared to those in the corresponding period of 1992. The products newly introduced in the third quarter of 1993 for the Engineering Systems market, such as the Oce 7600 (large format high volume plain paper copier) and the Oce 9500 (large format medium volume digital plain paper copier/printer) made an important contribution to this improvement.
 Office Systems revenues also developed favorably. The Oce 2475, introduced on the market in August 1993 proved a great success within a relatively short period of time. The Oce 2475 is a 75 copies per minute full speed duplex copier that offers very sharp prints.
 Furthermore, the implementation of the efficiency measures in 1993 throughout the whole Group had a clearly positive impact. Results in the United States continued to improve. Economic activity in most European countries continues to be weak.
 Mr. Pennings announced that in 1993 Oce had successfully adapted to the difficult economic circumstances. This has created an excellent platform for better results as soon as the market picks up.
 More detailed figures will be published on Feb. 17, 1994. The annual report will be issued early in March.
 Oce-van der Grinten N.V., headquartered in the Netherlands, is active in 80 countries and has its own operating companies in 25 countries. In the United States where Oce has a workforce of some 2,000, the Company has offices in Chicago and Itasca, Ill.; Providence, R.I.; and Mountain View, Calif.
 Oce American Depositary Receipts (ADRs) are traded in the U.S. on the NASDAQ system (National List) under the symbol OCENY. One ADR represents one ordinary Oce share traded on the Amsterdam Stock Exchange.
 -0- 1/7/94
 /NOTE TO EDITORS: At Nov. 30, 1993, one U.S. dollar equaled 1.9267 Netherlands guilders./
 /CONTACT: Freek Meijer or Marij Verlinden of Oce-van der Grinten N.V., 011-31-77-592-977, or Mary Jo Dieckhaus of Ogilvie Taylor & Associates, 212-686-8144/
 (OCENY) CO: Oce-Van Der Grinten N.V. ST: IN: CPR SU: ERN


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Publication:PR Newswire
Date:Jan 7, 1994
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