Presstek gets Nasdaq delisting warning



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Presstek, Inc.'s stock will be delisted if it doesn't get its stock price up, Nasdaq warned the company last week. But the Hudson-based printing equipment can still be traded on the exchange, at least until April.The company's stock traded below a dollar for 30 consecutive days, violating minimum bid price rule for the exchange.The company's stock price fell below $1 on Sept. 14 and dipped to 66 cents on Oct. 3. On Wednesday, Presstek shares closed at 76 cents, up 4 cents.Presstek has until April 23 for its stock price to stay above $1 for 10 consecutive trading days. The company could then appeal the delisting, or - if it meets the exchange's other requirements - be traded on NASDAQ Capital Market, the exchange's alternative for small cap companies.Presstek has received delisting notices before, but that was due to late filings with the U.S. Securities and Exchange Commission, not for a low stock price. The warnings were removed after the company filed its quarterly reports.The company lost a total of $60 million in 2009 and 2010, and $3.2 million in the first half of this year. As of July 1, stockholders held an estimated equity of nearly $50 million.The company announced Monday that it will release its next earnings report on Nov. 14. -- BOB SANDERS/NEW HAMPSHIRE BUSINESS REVIEW

 

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