SHELTON, Conn.---Baldwin Technology Company, Inc. (ASE:BLD) reported today that net income for its first quarter ended September 30, 2000 was $1,063,000, or $.07 per diluted share, compared to net income of $314,000, or $.02 per diluted share, for the first quarter of the prior year. Net sales for the current period were $44,960,000 versus $45,496,000 for the prior year's quarter. Currency translation impacts associated with the strengthening U.S. dollar resulted in decreases in net sales and net income of $1,944,000 and $179,000, respectively, when compared to the prior year. Backlog as of September 30, 2000 was $71,000,000, reflecting an increase of 7% above the backlog at June 30, 2000, and nearly 4% above the backlog at September 30, 1999. Orders for this year's first quarter of $50,000,000 were about flat compared to the quarter ended June 30, 2000, but approximately 11% below last year's first quarter because of the exclusion of orders associated with the divested Baldwin Stobb operations (approximately $3,500,000) and the effect of currency translation (approximately $2,100,000). This year's first quarter results included an after-tax loss of $423,000, or $.03 per diluted share, from the divestment of the Baldwin Stobb division which was completed in late September. This loss was offset by the recognition of an after-tax gain of $426,000, or $.03 per diluted share, representing the cumulative effect of the change in accounting related to the required adoption of FAS 133. Gerald A. Nathe, Chairman and President, commented: "Our first quarter results reflect an improved operating performance over last year, even though sales were flat. The divestiture of the Baldwin Stobb division was a step in our strategy of repositioning our material handling business to the smaller format, short-run digital segment of the printing and publishing marketplace. We continue to take the steps and make the investments necessary to implement our restructuring strategy." Baldwin Technology Company, Inc. is the leading international manufacturer of controls, accessories and material handling equipment for the printing industry.