SEC OKs Presstek accounting methods
The Securities and Exchange Commission has approved Hudson-based Presstek’s accounting methods, paving the way for the maker of printing equipment to file its annual financial report, the company said on Tuesday.
The delay in the filing had caused the Nasdaq to threaten to delist the company.
Presstek announced last month that it was delaying the filing due to unexpected difficulty in accounting for the costs associated with discontinuing the company’s analog printing operations, which were halted last year after a chemical spill at the Massachusetts plant that housed those operations.
On April 3, Presstek received a warning from the Nasdaq that its stock could be delisted as soon as today.
Presstek also announced that William Keller, the company’s senior vice president of operations plans, to resign in May to pursue a career with a private equity firm. – BOB SANDERS