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Presstek reports Q2 results

Jul 27, 2001 12:00 AM


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Presstek, Inc. (Hudson, NH) announced financial results for Q2 as follows:
Presstek's revenues for the second quarter of 2001 increased 28% to $27.1million from $21.2 million in the same period a year ago. Net income for Q2 2001 was $105,000, or breakeven, compared to $568,000, or $.02 per diluted share, for the second quarter of 2000.
Revenues for the six months ended June 30, 2001 rose 31% to $52.9 million from $40.3 million for the first half of 2000. Presstek reported net income of $1.1 million for the first six months of 2001, or $.03 per diluted share, compared to $959,000, or $.03 per diluted share, for the same period last year.
Revenues for the second quarter of 2001 consisted of product sales of $ 24.9 million and $2.2 million of royalties and fees from licensees, compared with product sales of $18.4 million and $2.8 million of royalties and fees from licensees in Q2 2000. Plate media revenues for second quarter 2001 were $11.1 million, compared to $10.7 million in Q2 2000. Revenues from equipment sales to Heidelberg, including royalties, for theQ2 2001 were $6.8 million, compared to $8.8 million for the same period in 2000. Total Heidelberg revenues for second quarter 2001 were $12.4 million, compared to $13.0 million for Q2 of 2000.
Results for the Q2 also included $2.8 million of losses at Presstek's Lasertel subsidiary, $1.9 million of which was recorded as cost of sales and $900,000 as operating expenses. Losses at Lasertel for the first six months of 2001 total $5.6 million.
Lasertel did not record any material revenues during the first half of 2001.