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

Gross margin percent for 2010 was 32.6 percent, compared to 31.4 percent in 2009. The improvement vs. 2009 was due primarily to increased manufacturing efficiencies.

Fiscal 2010 operating expenses of $48.7 million represented a reduction of $24.9 million from the prior year. Excluding the impact of the one-time write-off of goodwill in the second quarter of 2009 and the customer bad debt reserve in the fourth quarter of 2010, operating expenses declined by $7.7 million, or 14 percent. The decline in operating expenses was primarily related to reduced payroll costs and professional service fees, partially offset by increased non-cash equity-based compensation expenses.