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Printware Reports 3Q Loss, Revenues Up 16%

Press release from the issuing company

ST. PAUL, Minn., Nov. 1 - Printware, Inc. today reported revenues of $1,394,000 for its third quarter ended September 30, 2001, reflecting a 32% increase over last year's third quarter revenues. The Company also reported a net loss of $285,000 or $0.09 per share for the quarter, which included the effect of an after-tax charge to earnings of $195,000 for unrealized depreciation on its investment in Select Comfort Corporation securities. The Company reported a net loss of $72,000 or $0.02 per share in the comparable quarter last year. Printware's year-to-date revenues are $4,516,000, or 16% above last year's revenues. Year-to-date net income is $15,000 or $0.00 per share, which is the same as last year. Included in the 2001 year-to-date earnings was unrealized appreciation of $58,000 on the Select Comfort Corporation securities. Printware, Inc. designs, builds and markets "computer-to-plate'' systems, which are used by the printing industry to create printing plates directly from computers or the Internet. Computer-to-plate systems replace the traditional platemaking process of typesetting, proofing, paste-up, camera work and processing film.