Presstek profits fall in third quarter

Presstek has attributed the fall in its third quarter earnings to the steps taken to transition the business.

Earnings fell to 461,800 ($823,000) compared to 1.5m during the same period in 2004. Its 2005 Q3 revenues, which included sales from AB Dick, were 36.3m, up from 16.1m.

The earnings fall was blamed on the shift towards digital products and the realignment of its DI press distribution agreements with Kodak in North America and KBA in Europe.

"We shifted our focus and resources very strongly toward our digital business during the quarter. In the process we lost some business, primarily on the analogue side," said Presstek president and chief executive Edward Marino. "We anticipated a decline in this line of business but not as much as we experienced."