Pressteks results show rolling profits

Presstek has released its second quarter results and made Michael McCarthy vice president, business integration.v

McCarthy's appointment follows his role as an adviser to Presstek during its acquisition of AB Dick from Chapter 11 bankruptcy protection (PrintWeek, 15 July).

 

"He has demonstrated his strong business and leadership skills in the several months he has been advising us," said Presstek president and chief executive officer Edward Marino.

 

The second quarter results represented the company's eighth consecutive profitable quarter.

 

Net income fell 22% to 770,000 ($1.4m) on sales up 1% to 12.4m. Consumables sales offered reason for cheer hitting a record breaking 7.7m, up 3.7%.

 

An equipment order book of some 6m 4.9m of which will be shipped in the third quarter also offered cause for optimism.

 

"Our business fundamentals are sound and our strong backlog gives us a good platform for organic growth in our core businesses," said Marino.

 

Last week Presstek completed its buy of Precision Lithograining Corporation its manufacturing partner for Anthem, Freedom and Aurora plates.

 

Story by Darryl Danielli