Pressteks second-quarter net income slumped 81% due to losses incurred at its Lasertel subsidiary.


Lasertel made a 1.9m ($2.8m) loss during the quarter and 3.9m for the first six months of the year.


The firms revenue for the second quarter rose 28% to 19m ($27.1m), but net income dropped to only 74,000. Revenues for the first six months rose 31% to 37m, while net income was up 14% at 771,000.


Presstek also suffered from increased legal expenses due to patent litigation, while higher inventory and accounts receivable levels forced it to use more of its credit lines.
On a brighter note, the Graphical Arts Technical Foundation (GATF) has given Presstek a 2001 InterTech Technology award for its innovative digital imaging technologies.