Presstek -- Stock of the Decade?? Message Board

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Technology Stocks : Presstek -- Stock of the Decade??

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Sep 29 10:16 AM EST

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To: Thomas J Engelsma who wrote (1164)	8/19/1996 11:17:00 AM
From: Pierre Panet-Raymond	of 11098

Tom,I admire the work you put into Presstek, but doesn't it bother you that the company goes out of its way to conceal vital information from investors? As posted on Friday, I HAVE NEVER SEEN SUCH SHODDY DISCLOSURE FROM A COMPANY BEING VALUED AT SUCH LEVELS IN THE MARKET. The company does a totally unsatisfactory job of explaining variances in the Results of operations section. Legal fees aren't the culprit for the staggering increase in G&A in the quarter as the first suit was not filed until June 28th, one day before the end of the quarter! Those costs for the Articles of incorporation changes are not meaningful. So that can only leave the legal costs associated with the arbitration proceedings brought against Presstek by Agfa. If the legals are so high why is the arbitration proceeding and the risks associated with it not mentioned anywhere in the 10Q? In terms of Engineering and Product development, the decrease is significant and if one factors in the Catalina acquisition in Q1 96, the decline is even more dramatic for we are told on page 15 that Catalina is developing a "new Vacuum deposition system" . How can Presstek keep up with the Kodak's, Fuji's etc of this world without spending money on R&D and Product development.

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