Scitex Announces Third Quarter 1999 Results. Finally, a double-digit revenue growth. Rimon Ben-Shaoul, Vice Chairman, was elected Chairman of the Board of Scitex Corporation Ltd., succeeding Mr. Dov Tadmor who announced his retirement
Herzlia, Israel, October 27, 1999 Scitex reported net income for the third quarter of 1999 of $5.1 million or $0.12 per share (diluted), compared to a loss of $78.7 million or $1.83 per share for the third quarter of 1998. Third quarter 1998 results include a $68.9 million loss from discontinued operations. Revenues for the third quarter of 1999 were $167 million, up 11% from the $150 million recorded in the third quarter of 1998. Scitex also announced that Rimon Ben-Shaoul, Vice Chairman, was elected Chairman of the Board of Scitex Corporation Ltd., succeeding Mr. Dov Tadmor who announced his retirement. Mr. Ben-Shaoul, CEO and President of Clal Industries and Investments Ltd., The disenchanted investors hope now, that this historic and long over-due change at the helm may open up new opportunities for a faster growth, or sale of the company.
