Raster Graphics sees slowing growth
SAN JOSE, Calif., Oct. 20 (Reuters) - Raster Graphics, Inc, a maker of large-format,
on-demand digital printing systems and software, said Monday it expects slower growth in the
future.
''We believe the slowness we saw in Europe in the third quarter may represent an overall
moderation of industry growth rates. Therefore, although we fully expect to finish 1997 with
record annual results, we are currently planning for somewhat slower growth rates in the
foreseeable future,'' said Rak Kumar, the company's chief executive officer, in a statement.
For the third quarter, Raster Graphics earned 9 cents a share, compared with 10 cents a year
earlier.
The company attributed the shortfall from its targets to slowness in two of its large international
markets, the United Kingdom and Germany.
Raster Graphics also announced Monday the acquisition of Datagraph, a distributor of large
format digital printing systems in France.
Separately, Raster Graphics announced effective immediately, Dennis Mahoney, vice president
and chief financial officer, will be leaving the company.
Douglas Lindvig, the company's treasurer, will replaceMahoney on an interim basis as acting
chief financial officer.
REUTERS
SAN JOSE, Calif., Oct. 20 (Reuters) - Raster Graphics Inc said Monday it expects slowing
European sales in the third quarter to continue into the foreseeable future.
Separately, the company said Chief Financial Officer Dennis Mahoney has decided to leave the
company, effective immediately. Treasurer Douglas Lindvig will replace Mahoney on an interim
basis as acting CFO.
Regarding sales growth, President Rak Kumar issued the following statement: ''We believe the
slowness we saw in Europe in the third quarter may represent an over-all moderation of industry
growth rates.''
POSSIBLE LOST DATA
Separately, the company said Chief Financial Officer Dennis Mahoney has decided to leave the
company, effective immediately. Treasurer Douglas Lindvig will replace Mahoney on an interim
basis as acting CFO.
Regarding sales growth, President Rak Kumar issued the following statement: ''We believe the
slowness we saw in Europe in the third quarter may represent an over-all moderation of industry
growth rates.''
''Although we fully expect to finish 1997 with record annual results, we are currently planning for
somewhat slower growth rates in the foreseeable future,'' Kumar added.
Earlier, Raster Graphics, a maker of large-format, on-demand digital printing systems and
software, reported third quarter earnings of $0.09 a share on sales of $14.3 million versus $0.10
a share on sales of $10.9 million one year ago.
In a statement, Raster Graphics said it was pleased with the sales growth even though it did not
meet internal targets. It said the shortfall came principally from softness in the United Kingdom
and Germany.
Sales weakness was somewhat offset by strength in other international markets, such as Latin
America and the Far East, and record performance in the United States, the company said.
Finally, the company said it completed its acquisition of Datagraph, a distributor in France of
large-format digital imaging systems.
REUTERS
POSSIBLE LOST DATA
0.32 75.00 - 0.24
Head meat 0.13 43.75 - 0.06
Oxtail, selected 0.16 144.00 - 0.23
Hearts, reg, bone out 0.38 25.25 0.25 0.10
Lips, unscalded 0.11 65.00 - 0.07
Livers, slcted, gall off 0.96 37.50 - 0.36
Tripe, scalded edible 0.65 26.50 - 0.17
Tripe, honeycomb bleached 0.15 49.00 - 0.07
Lungs, inedible 0.47 5.80 - 0.03
Melts 0.14 5.25 - 0.01
Meat bone ml, 50% blk/ton 3.70 267.00 3.00 0.49
Blood meal, 85% blk/ton 0.60 580.00 - 0.17
TOTAL : 18.80 8.83**HIDE WEIGHT ADJUSTED TO REFLECT SEASONAL CHANGE**
REUTERS |
