Electronics For Imagings (EFI) third-quarter profits slumped by 45% on the back of falling sales.

Net income including goodwill amortisation fell to 7.6m ($11m) for the quarter on sales down 20% to 88m.

For the fourth quarter the firm expects the combination of traditionally low sales in the quarter combined with the global economic situation to result in sales of around 76m.

"In a very difficult economic environment we achieved solid bottom line results by efficiently managing costs in all areas," said chief executive Guy Gecht.

EFI has announced a new software module developed in conjunction with digital rights management firm Authentica that allows secure printing.

The Advanced Secure Print Module (ASPM) prevents unauthorised copying, printing and distribution of digital documents.

"This software offers enormous benefits to customers concerned about the confidentiality and security of documents," said EFI general manager of professional services Chris Parlanti. "It will fill a gap not served by other technologies."

Story by Barney Cox