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Technology Stocks : Presstek -- Stock of the Decade??
PRST 0.00010000.0%Sep 29 10:16 AM EST
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To: Pierre Panet-Raymond who wrote (870)7/22/1996 8:49:00 PM
From: Guodi Sun   of 11098
 
Another piece of news:

NEW YORK, July 22 (Reuter) - Presstek Inc said on Monday it

was on track to complete the shipment of at least 100 more

Quickmaster DI imaging kits to Heidelberger Druckmaschinen AG
by the end of the year.

In a statement accompanying its second-quarter earnings

release, the company said it still expected to reach its goal

of shipping 100 or more of the digital printing retrofit kits

to Heidelberger in the June 1 to December 31 period.

The company was responding to market speculation about

shipments of Quickmaster, its main source of near-term revenue.

Presstek previously said it shipped 190 Quickmaster kits to

Heidgelberger, the world's leading printing press manufacturer,

from June 1995 through May 1996.

Presstek stock has been subject to wild gyrations amid

speculation that its technology could spearhead the

modernization of the short-run printing industry and the

company's acknowledgement in June that the U.S. Securities and

Exchange Commission was probing trading in its stock.

The company's stock declined 3-1/2 to 58 after the release

of the earnings report on Monday. The stock has retreated from

a high of 200 reached in May.

A Presstek spokesman declined to say how many of the

Quickmaster kits the company had shipped in the second quarter,

making it impossible to determine how many of the kits it has

shipped to date.

"we're not providing a quarter-by-quarter rate" of

shipments, the spokesman said."We're just confirming that the

company is on track to meet its goal for the year."

The kits are based on Presstek's core PEARL digital

printing technology, designed to boost the quality and speed of

presses used in the short-run printing market.

In its second-quarter earnings report, Presstek said the

company's gross margins for the first half of 1996 rose to 34

percent from 26 percent in the first six months of 1995.

During the second quarter, Presstek said it had revenue of

$11.9 million versus $5.5 million in the 1995 quarter.

First-half revenue rose to $22.9 million from $10.6 million in

the first six months of 1995.

Net earnings per share rose to $0.10 during the 1996 second

quarter from $0.01 per share in the year-ago quarter.

-- Eric Auchard, New York Newsdesk, 212-859-1736
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