The simple answer is yes, but there are a number of reasons why this might be the case:

- Market downturn - everyone in the market is declining in the short term so it is just a temporary thing
- Outperform competition - linked to the above point if you are declining more slowly than your competitors you will actually be gaining market share, which is generally seen as positive
- One off costs - often firms will have large one off costs, such as a lawsuit
- New direction - during a period of change it is often the case that the day to day business will suffer and revenues decline, but this is seen as positive as the business will be better prepared moving forward
- Managed decline - the firm may have made the decision to do this due to focusing more on profit rather than revenue, to streamline their business, or to counter overproduction. For example a cheese factory might have to be working 24hours a day leading to high overtime costs, low quality product and low margins. By reducing revenue they can reduce overtime, increase margin, increase quality and in many cases increase profits.