Presstek Says Low Stock Price Not Reflective of Company’s Performance
Press release from the issuing company
Hudson, NH— Presstek, Inc. (Nasdaq:PRST) a leading provider of direct digital imaging technologies to the printing and publishing industry, commenting on recent market conditions, stated today that management believes that the recent downturn in the company’s stock price is not reflective of the strength of the company’s ongoing operations and future business outlook.
In particular, the company reported that it is now receiving initial shipments of laser diodes from its new subsidiary, Lasertel, Inc. The company is pleased with the quality of these diodes, and every effort is being made to incorporate them in all its new DI press and Dimension CTP product offerings. The company also stated it is pleased with the demand for its new Dimension CTP product. In addition, the company reported it is shipping, building inventory and working down the backlog for its new Anthem plate.
Robert Hallman, president and chief executive officer said, "In other matters, the Xerox project is underway with the preparation of presses for shipment, and the building of an installation and service organization."
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