Paul, I believe that 25 is your magic number post split? So...your amused and entertained from reading my post? Enjoy yourself.....for now.
I'm not to amused right now. After buying a bunch more at 27 3/4, I received a small "margin call" from Thursdays close. Thought my margin basis permitted me to be lower than that. I must own more shares than I thought!
Now, I would like to see the latest Bloomberg's 13F report on Presstek that indicates Mutuals have dramatically reduced, or sold all their shares. Please post your current edition. I show that as of 9-30-97, there are 70 institutions that control 11.38% of the outstanding shares. Management owns 20%....and there is 18% short.
You state that Presstek products have had 3 years to be incorporated into other companies lines..... and have not done so..... It has only been the past year that the success of this technology has proven itself with Heidelberg. Others will soon follow.
Paul....You give the impression from the following paragraph that Heidelberg is ending a relationship with Presstek......You know better! The initial increases were due to the backlog of orders....Production has now caught up with new orders and a decrease in kits is a result. Remember, Presstek went from 10 a month to 80 a month in one year.....so what if they drop back to 50 or 60?
Your quote: "Mia copa, I guess I overestimated the importance of a customer MAKING UP 80% OF THE BUSINESS. Neil, how easy is it to find another customer that does almost 80 million of business.
You most definately need to clarify the following: "I don't know Neil, but I have heard many individuals resigning to avoid being fired. Possible?"
Paul, are you trying to indicate that Presstek is reducing staff or in any way cutting back on employment? Are you saying that key Presstek employees are resigning to avoid being fired? Whew Paul, if you are, you better have good sources for that one. I find the opposite is happening. Presstek continues to report additional employees in their filings.
There are articals that indicate Presstek technology is leading edge. I have posted them and so have others.....go back and review.
Alcoa and Nilpeter have both been featured lately in the trade journals. I have posted the information.....go back and review.
Paul, the approximate production and sales numbers and the advertising direction worldwide regarding Heidelberg QMDI's are from many different print magaznes phone calls to other industry sources besides just Heidelberg Centers.
It is quite clear you were not at Print-97 or at any of the 74-Karat press demos. I stayed around the site for quite some hours and listened to the printers and executives. I have previously posted information regarding the tremendous interest in this press and the 5000 plus responses that KBA/Scitex sent to printers and others that inquired about receiving information about this press. Also, there is a big shift of employees to the site that the new press is to be manufactured at. No idea of production numbers for 1998.
You state: "Given the tremendous overcapacity in the plate manufacturing market, why would a competitor shift to Presstek's Catalina facility?"
Paul, there will be a big move to thermal plate usage and also waterless printing. Presstek's facility which will use the new high speed vacuum technology for plate production promises to be extreamly low cost. I have no info that others are going to use this production method through Presstek, however, the likelihood of this occuring seems quite feasible. Kodak and Polychrome contracting with Presstek?.......hmmmm, wouldn't that be interesting?
Neilism? Hey....not bad! I like it better than Paulism. As far as PEARLgold plate response, Time is short so I would like to address that on a seperate post at a later time.
Neil
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