The company recorded an EBITDA of $1.1m (£730,000) on revenues of $33.5m, compared with $3m and $42.3m respectively year-on-year.

However, sequentially figures were positive, and operating loss improved both sequentially and year-on-year to $700,000, while the company managed its debt down to $4.2m.

Presstek chairman, president and chief executive Jeff Jacobson said: "These results represent our first sequential quarterly increase in revenue since the second quarter of 2008; a return to positive adjusted EBITDA after two negative quarters; and a strengthening of our overall financial position."

The figures don't include proceeds from the sale of its Lasertel division to Selex that completed on 5 March. The $10m deal comprises $8m in cash and the remainder to cover a two-year contract for the supply of Presstek's laser diode inventory needs.

The company also announced it had arranged a new credit facility with PNC Bank against company assets that will enable it to draw up to $25m at rates set at either LIBOR +3.5% or Prime Rate +2.5%. It has already repaid outstanding amounts to its previous $25m facility.

Finally, Presstek said a settlement of $400,000 had cleared up an investigation by the US Securities and Exchange Commission over the conduct of a former chief executive who is believed to have shared confidential information to an investor, resulting in wiping nearly a fifth of the value of its shares.

Jacobson said that these events had not happened under the current management. "We feel very strongly about corporate governance and we are pleased to put this legacy issue behind us," he said.