Presstek sees earnings increase
Presstek posted a strong first quarter Thursday, recording net income of $2.7 million, or 8 cents a diluted share, compared to less than the $500,000 it earned in the first quarter of 2005.
Sales at the Hudson-based provider of printing equipment and solutions, were up slightly, to $70.6 million, compared to $70.4 million in the first quarter of the previous year.
“This is the first quarter where we realized the full effect of the series of strategic moves we initiated at the end of 2004,” said CEO Edward J. Marino. The moves included some acquisitions and focusing on the companies digital product lines.
The company also recorded an operating profit of $3.9 million, compared to $3.3 million last quarter and $1.2 million the first quarter of the previous year. – BOB SANDERS