Presstek Announces $11.2 Million in Profit Improvement Actions

Outlook
The company expects fourth quarter 2011 revenue and gross margin dollars to remain relatively stable on a sequential basis, as a seasonal drop in consumables along with the impact on margins of continued low factory volume levels is expected to be offset by higher equipment revenue at improved margins. In addition, the company expects to report special charges in the fourth quarter in the range of $1.0 million to $1.3 million primarily for employee severance costs associated with the profit improvement actions. Debt net of cash is expected to increase sequentially by approximately $1.0 million to $2.0 million.