Neil Heidelberg's most successful press is the GTO not the QM-DI as you state in the post to which I am responding. "their most successful press."
As for the rest of your post I believe that your interpretation is mostly wishful thinking. Changes of a factual nature were all negative imo.
On Sept 3rd PRST stated:
"Presstek's PEARL-gold plate is in beta testing today, with limited controlled sales expected in Q4 1997 and commercialization in January, 1998."
Jan. 20 that becomes:
"An important contributor should be PEARLgold,
which is expected to be in serial production by the middle of this year."
Likewise with the PEARLhdp Matchprint Sept 3:
"The PEARLhdp, Matchprint(TM) Laser Proof combination enters
U.S. beta testing in September with commercialization expected in Q4 1997."
Now:
"This new system is now in beta test, and barring any unforeseen difficulties, both companies anticipate market activities will get underway in early 1998."
The capital expenditure, which started at $28MM were last estimated at $35 and scheduled for completion in January.
Now:
"Our current expectation is that we will be producing prototype
materials by the end of this quarter and that the system will be on-line by mid-year."
Sounds like more cost overuns here Neil. With only $4.8MM left in their line of credit and cash/investments down to around $5MM at the end of September, it sounds like the company might have to raise additional financing soon.
And Finally, Heidelberg. On October 30th PRST said:
"Presstek, therefore, assumes that the current production rate of its Direct Imaging system used in the Quickmaster DI press will be reduced beginning in the first quarter of 1998."
Now:
"This may result in the Company's future revenues from its
Quickmaster imaging kit being subject to unpredictable quarterly
fluctuations. "
As time has passed, and reality further sunk in, the warnings have stiffened. IMO, you ignore them at your own peril. |
