CAD/CAM systems provider Lectra has unveiled its unaudited consolidated financial results for the first quarter, with revenue slipping three per cent year-on-year at constant exchange rates to EUR42 million.

The company, which completed its acquisition of Italian competitor Investronica Sistemas on April 2, also posted a narrower pre-tax loss and a net loss of EUR0.3m for the quarter, compared with losses of EUR1.5m and EUR1m respectively in the previous first quarter.

It attributed the downturn to a tough economy and the fall of the US dollar.

Despite the losses, the company registered a nine per cent year-on-year increase in software licence and equipment orders for the quarter, while operating income remained flat on the previous year.

In addition, first quarter net cash increased EUR3.7m from year-end 2003 to a record EUR56.1m.