Presstek Releases Q4 Financial Results; 2012 Outlook Positive

2011 Financial Results Total revenue in 2011 was $120.0 million, a decrease of 6.7 percent, or $8.6 million, from 2010.

• Equipment revenue decreased 3.1 percent to $20.7 million in 2011 compared with last year. The Company did, however, sell five 75DI presses on three different continents during the year.
• Consumables revenue totaled $76.3 million in 2011 compared with $82.3 million for the prior year resulting from general declines in our plate and consumables product lines.
• Service revenue declined 7.6 percent, to $23.0 million in 2011 compared to the prior year primarily due to a decline in our analog service customer base.

Gross margin percent for 2011 was 28.9 percent compared to 32.6 percent in 2010. The reduction was primarily the result of unfavorable equipment and consumables product mix, a stronger yen, and unabsorbed manufacturing overhead in our factories.