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Technology Stocks : Presstek -- Stock of the Decade?? -- Ignore unavailable to you. Want to Upgrade?

To: joe inti who wrote (10108)	10/21/1998 6:27:00 PM
From: Mad2	Read Replies (2) \| Respond to of 11098

Joe, As I read PRST's press release of this morning, match it up with the mood of PRST's conference call for QTR 2 and look back at the insider selling over the past two and one half years (where PRST mgmt sold shares at 22 - 25 times today's close) I would be livid if I were a shareholder. The spin Verrando puts on the Heidelburg build up is to imply that the build up was necessary. Oh why didn't he tell this to PRST shareholders when he came to that realization? He probably came to that realization back when he sold some of his stock. Time and time again these guys don't come clean. Thus the "faithfull" who actually take information given at face value (due to greed, ignorance or just gulliable) get screwed. I'm beginning to wonder if it will ever be worth it to take a long position in this company. I think it's headed below $5. The "faithfull" should be communicating with there leaders. >President and Chief Operating Officer Robert E. Verrando said Presstek shipments of Quickmaster kits to Heidelberg last year had outpaced end-user sales. ''On a normalized basis our revenues would have grown at an annualized rate of more than 35 percent for the past three years, but because of the early build-up necessary to fulfill Heidelberg's initial large backlog, we are now seeing an impact on this year's financial results,'' Verrando said. ''Heidelberg also continues to show a strong commitment to Presstek by featuring its second-generation technology in products introduced at the recent IPEX '98 trade show.'' < Here's one that IMO is a bunch of double speak. Only a few months ago they were talking about all the capacity they had with their existing line. My take on Hallmans comments as well as the discussion of there problem with plates is that they screwed up royaly with their initial investment. Now for reasons of quality and efficiency they are going to drop another 7mil into the plant for plates. >Hallman also said that the company would be investing approximately $7.5 million in additional commercial plate manufacturing equipment that will reduce the cost of plate manufacture and enhance the company's development capability.< >Sales of consumable plates for the third quarter, seasonally the company's slowest, continued to expand showing an increase of 48 percent to $6.5 million, or approximately 33 percent of total revenues, versus $4.6 million, or 20 percent of revenues, for the same period last year. This increase was despite a manufacturing problem experienced during the quarter, which has now been resolved.<