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Presstek Expects Record Q4 2004 Revenue

Wednesday, February 09, 2005

Press release from the issuing company

HUDSON, N.H., Feb. 8 -- Presstek, Inc., a leading manufacturer and marketer of environmentally responsible high tech digital imaging solutions for the graphic arts and laser imaging markets, today announced that, based on preliminary unaudited financial data, it expects to report record consolidated revenue in excess of $53.0 million for the fourth quarter of 2004. This is expected to be the highest quarterly revenue ever recorded by the company. Presstek President Edward J. Marino said, "There have been a number of positive events that have taken place at Presstek within the past twelve months that have added to the strength of the company's ongoing operations and future outlook, including two important acquisitions by the company. Beyond this, Presstek's core business also showed strength, achieving a number of revenue records in the fourth quarter of 2004. Accordingly, we have decided to highlight a few points concerning Presstek's fourth quarter revenue in advance of our earnings release. We believe that the anticipated revenue for the fourth quarter of 2004 not only demonstrates the strength of Presstek's core business, but also reflects many of the positive changes to Presstek's business that have occurred over the last twelve months." ABDick, which was acquired by Presstek in November 2004, is expected to generate revenues of approximately $24.0 million for the eight weeks under Presstek ownership. Marino added, "The ABDick business is running ahead of expectations and we are enthusiastic about the prospects of this business as we proceed with our integration. Beyond the revenue contribution, the ABDick acquisition has also greatly expanded the Company's customer base and broadened our channels to market." For the fourth quarter of 2004 Presstek expects record revenue of $14.8 million in its core DI and CTP consumable business, largely related to its award-winning Anthem plate. The company also expects to report solid DI and Dimension CTP equipment revenue in the fourth quarter of 2004, led by sales of its DI presses primarily to Kodak Polychrome Graphics. In addition, the company's Lasertel subsidiary is expected to report record external sales for the fourth quarter of 2004. Precision Lithograining, which was acquired by Presstek in July 2004, is expected to achieve record revenue of approximately $7.0 million, or $5.0 million in external sales and $2.0 million in internal sales. Presstek's Chief Financial Officer Moosa E. Moosa added, "We are pleased with the preliminary figures for the fourth quarter of 2004. The record consumable revenue, record external sales at Lasertel, together with the record revenue at Precision are key indicators of the strength of Presstek's core business." Presstek's President Edward J. Marino said, "The strength of Presstek's core business gives us a solid revenue platform to build upon, and we anticipate continued growth through 2005 and for the foreseeable future." Marino continued, "2004 was a pivotal year for Presstek. We have greatly expanded our customer base and substantially broadened our channels to market, creating a strong foundation on which to grow. We are more optimistic about our company than ever before."

 

 

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