Drupa sales push Presstek’s profit

This excluded results from the company’s Lasertel division, which it has put up for sale.

Presstek said the weakness in the US had been partially offset by increased sales in Europe, which were up 35% on last year thanks to a successful drupa.

Sales of the company’s DI plates were slightly up for the quarter, while global DI press sales were comparable to the previous year.

Gross margin increased to 34.7% from 26.2% in 2007, whilst operating expenses declined 27%, or $US5.5m ($AU8.2m).

As a result, net income for the third quarter showed a marked improvement, with the company recording a US$200,000 ($AU300,000) profit, versus a loss of US$3.6m ($AU5.4m) in 2007.

Presstek president and chief executive Jeff Jacobson (pictured) said: “While the economic environment continues to challenge our revenues, we are pleased that the aggressive business improvement actions and operating disciplines we initiated a year ago have resulted in our third consecutive quarter of profitability.

“Our continually improving financial position during these turbulent times has allowed us to remain focused on the execution of our strategic initiatives which include the broadening of our product portfolio, international expansion, and our migration into larger print establishments.”

Read the original article at www.printweek.com.

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