Agfa announces 2005 1st quarter results

Agfa-Gevaert has announced its first quarter 2005 results, with sales totaling $946 million, a decrease of 13.7 percent compared to the same period in 2004. Gross profit amounted to $358 million compared to $465 million in the first quarter of 2004, a decrease of 22.8 percent, partly resulting from the divestiture of Consumer Imaging. The gross profit margin was 37.9 percent and was mainly affected by increased raw material costs and price erosion, Agfa said.