By Trevor Shackelford November 8, 2005 -- Presstek (NASDAQ: PRST) today announced their third quarter earnings results. The company reported revenue of $64.7 million, down from $69.7 million last quarter and $29.8 million in the same period last year. Net income for the quarter was $823,000, or $0.02 per share, compared to $2.7 million, or $0.08 per share, in the same period last year. The company saw decreases in all of its business segments except Lasertel. Topics of this Summary Quarter Highlights Segment Performance Guidance Raine Radar Quarter Highlights Presstek restructured its DI distribution agreements, resulting in a $2.5 million reduction in third quarter revenue The company shifted its focus heavily to its digital business, losing a greater than expected $1.7 million, primarily in consumables from analog customers The company consolidated its ABDick engineering and manufacturing operations from Rochester, New York into Presstek’s Hudson, New Hampshire facility Cash balance at the end of the quarter was $5.8 million, down from $11.1 million Total debt decreased to $31.3 million, down from $33.1 million at the end of the second quarter EBITDA for the third quarter was $4.4 million, down from $6.0 million last quarter Segment Performance Presstek Core This segment now includes all ABDick revenue. Revenue was $60.2 million, down from $65.2 million last quarter. Equipment revenue was $17.0 million, down from $20.4 million in the second quarter. Consumable revenue was $31.7 million, compared to $32.8 million last quarter. Income from operations was $2.2 million, compared to $5.3 million in the last quarter. Lasertel External Lasertel sales were a record $1.0 million. Despite the gain, Lasertel reported an operating loss of $1.3 million, up from $1.1 million last quarter. Precision External revenues from Precision were $3.3 million in the third quarter, down from $3.8 million last quarter. Income from operations was flat at $0.4 million. Gains in efficiency were offset by lower production volumes. Guidance The company provided no specific earnings guidance for the fourth quarter 2005. According to Reuters, analysts expect $0.05 per share of earnings on $67.1 million in revenue for the fourth quarter. Raine Radar The company made a lot of changes during the quarter, apparently scaring off some traditional analog customers with its shift to digital, and losing revenue in restructuring its distribution deal. If it can make up the lost ground next quarter, the company should find itself back on track.