Agfa-Gevaert reported 2001 net sales of $4.3 billion (U.S.), down 6.6% compared with the $4.6 billion reported in 2000. For the year, the Mortsel, Belgium-based vendor had a net loss of $250.4 million, which was due to heavy restructuring costs, according to the vendor. In 2000, Agfa had net income of $147 million.
Agfa said that its HealthCare business turned in higher revenues in 2001, thanks to increased demand for hardcopy products, digital systems, and PACS. The HealthCare unit's earnings before interest and taxes (EBIT) decreased in 2001, however, due to greater investment in R&D, higher production costs, and development of a sales network for digital systems and networks, according to Agfa.
Agfa said that its Horizon restructuring plan is on track, and that while it expects first-half results to remain weak, the second half of 2002 should improve significantly.
By AuntMinnie.com staff writersMarch 7, 2002
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