Presstek, Inc. (Nasdaq: PRST), a company we have profiled in our sustainable investing newsletter, Progressive Investor, as a leading “sustainable” printer, announced today it expects to report record revenues for the fourth quarter of 2004.
This leading manufacturer and marketer of environmentally responsible high tech digital imaging solutions for the graphic arts and laser imaging markets, expects to report record consolidated revenue in excess of $53.0 million for the quarter, 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.”
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 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.”