Presstek Announces $11.2 Million in Profit Improvement Actions

Third Quarter 2011 financial results
In the quarter, the company reported total revenue of $26.9 million, a decline of 14.4 percent from the third quarter of 2010, which was impacted, as expected, by general global economic weakness. Including a $1.4 million reserve against European accounts receivable and $0.4 million in special charges, the company had an operating loss of $4.7 million in the quarter, compared to an operating loss of $1.3 million reported in the 2010 third quarter. Excluding these two items, the operating loss would have been $2.9 million.