Presstek Narrows Loss for Fiscal Year, Logs Third 75DI Press Order

Gross margin percent for the fourth quarter of 2010 was 31.9 percent, compared to 33.9 percent in the fourth quarter of 2009. The reduction vs. the fourth quarter of 2009 was due primarily to lower service margins and a lower mix of higher margin consumables.

Excluding the $1.9 million non-cash charge in the fourth quarter of 2010 for a customer bad debt reserve, operating expenses declined by $0.6 million, or 5 percent, from the fourth quarter of 2009. The decline in operating expenses was primarily related to reduced payroll costs, professional service fees and restructuring charges, partially offset by increased non-cash equity-based compensation expenses.