Printer Friendly

OCE-VAN DER GRINTEN REPORTS PRELIMINARY RESULTS

 VENLO, The Netherlands, Jan. 8 /PRNewswire/ -- Preliminary results for the fiscal year ended Nov. 30, 1992 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 CEO Harry Pennings announced that 1992 net income is expected to total some US$ 48.5 million (US$ 1: NLG 1.7925, the noon buying rate of Nov. 30, 1992), a decrease of 14 percent on the 1991 net income of US$ 56.3 million.
 1992 revenues were up 3 percent at some US$ 1.5 billion. Unfavorable economic factors were among the main causes of the decreased profitability. The third and fourth quarters particularly were marked by a decline in economic activity in many countries. Additionally, exchange rates developed unfavorably for Oce.
 Mr. Pennings announced that Oce - with its strong technological and financial basis, its solid infrastructure and its market oriented product range - has the strength and resilience to meet the challenges of the present period of unfavorable external circumstances. Oce's CEO emphasized that Oce would continue to support its research and development activities at a high level of investment. Mr. Pennings added that the organizational changes resulting from the recalibration of Oce's organization by mckinsey are now being implemented.
 More detailed figures will be published next on Feb. 16. The annual report will be issued early in March.
 Oce-Van Der Grinten N.V. is the Dutch parent company of the Oce Group which is active in more than 20 countries. The group has over 12,250 employees.
 Oce is known worldwide for its advanced copying, printing and plotting systems, products and services for the presentation of information on paper. The group serves the office systems and engineering systems markets with an extensive product range comprising:
 -- copiers and copying supplies for office systems
 -- copiers and copying supplies for engineering systems
 -- laser printing systems
 -- plotter systems and plotter supplies for computer aided design
 -- photosensitive materials and graphic films.
 Oce is one of three principal suppliers of very high volume office copiers, and in the engineering systems market it is the only company in the world which develops, produces and markets on a global basis the four basic reproduction systems - diazo, plain paper, plotting and microfilm - for all volume segments of these markets.
 Oce's products are largely marketed, serviced, produced and developed by Oce itself. Apart from sales of equipment and supplies the group also derives its income from rentals, leasing and service.
 The Oce Group has its headquarters in the Netherlands, where most of its research, production and international marketing activities are also located. In the U.S., where Oce has a workforce of some 2,000, the group has offices in Chicago and Itasca, Ill.; Providence, R.I.; and Mountain View, Calif.
 Oce American Depositary Receipts (adrs) are traded in the USA on the NASDAQ system (national list) under the symbol "OCE-NY", one adr representing one ordinary Oce share traded on the Amsterdam Stock Exchange.
 -0- 01/08/93
 /CONTACT: Freek Meijer of Oce-Van Der Grinten N.V. (in the Netherlands), 011-31-77-592240, or Ian Ogilvie of Ogilvie Taylor & Associates Inc., 212-945-0590, for Oce-Van Der Grinten N.V./
 (OCENY)


CO: Oce-Van Der Grinten N.V. ST: IN: SU: ERN

AH -- NY030 -- 5623 01/08/93 12:42 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 8, 1993
Words:560
Previous Article:GERALD L. GRAVES ELECTED VICE PRESIDENT - ENVIRONMENT AND SAFETY OF EXXON CORPORATION
Next Article:NABORS INDUSTRIES, INC. ANNOUNCES PERSONNEL CHANGES
Topics:


Related Articles
OCE-VAN DER GRINTEN NV REPORTS SECOND QUARTER RESULTS
OCE-VAN DER GRINTEN NV REPORTS THIRD QUARTER RESULTS
OCE-VAN DER GRINTEN N.V. FISCAL 1993 PRELIMINARY RESULTS
OCE-VAN DER GRINTEN N.V. ANNOUNCES FIRST QUARTER FISCAL 1994 RESULTS
OCE-VAN DER GRINTEN N.V. ANNOUNCES FISCAL 1994 THIRD QUARTER AND NINE MONTHS RESULTS
OCE-VAN DER GRINTEN N.V. FISCAL 1994 PRELIMINARY RESULTS
OCE-VAN DER GRINTEN N.V. ANNOUNCES FISCAL 1995 SIX MONTHS AND SECOND QUARTER RESULTS
OCE-VAN DER GRINTEN N.V. IN 1995: NET INCOME US$67 MILLION
Oce-van der Grinten N.V. Reports Fiscal 1996 Preliminary Results Net Income at US$98 Million *
Oce-van der Grinten N.V. Announces Results For the First Quarter of the 1997 Fiscal Year

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters