Presstek Releases Q4 Financial Results; 2012 Outlook Positive

Fourth Quarter 2011 Financial Results Total revenue in the fourth quarter of 2011 was $29.8 million, a decrease of $1.2 million from the fourth quarter of 2010.

• Equipment revenue increased $0.5 million, to $6.0 million, in the fourth quarter of 2011 compared with the same prior year period due to a favorable mix of DI press sales.
• Consumables revenue totaled $18.1 million in the fourth quarter of 2011 compared with $19.5 million for the same period last year due primarily to reductions in legacy product categories.
• Service revenue declined $0.3 million in the fourth quarter of 2011 compared to the year ago quarter due to lower contract service and parts revenue.

Gross margin percent for the fourth quarter of 2011 was 25.0 percent compared to 31.9 percent in the fourth quarter of 2010. Lower margins were primarily the result of a lower mix of higher margin consumables revenue, a stronger yen, and unabsorbed manufacturing overhead in our factories resulting from lower overall production.