An IR-absorbing phthalocyanine dye suitable for formulation in a solvent-based or oil-based ink vehicle is disclosed. The phthalocyanine comprises one or more sulfonate groups and a counterion of at least one sulfonate group is a phosphonium cation. Phosphonium salts of sulfonated gallium naphthalocyanines exemplify such dyes. ##STR00001##

 
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