Presstek Releases Q4 Financial Results; 2012 Outlook Positive

Total operating expenses in the fourth quarter were $10.5 million, compared with $13.3 million in the prior year period. Operating expenses, excluding special charges, declined by $3.8 million, or 29 percent, from the fourth quarter of 2010. The decline in operating expenses was primarily related to reduced payroll and other costs resulting from recent cost reduction initiatives, as well as reduced bad debt and stock compensation expenses. (See "Information Regarding Non-GAAP Measures")