Presstek Launches Site for Canadians, Q3 Results
Presstek has relaunched an E-Commerce portal for its Canadian customers. The new site features a new loyalty program and additional functionality which will allow Canadians to place online orders for supplies, parts and small hardware items.
“The new site design and functionality, coupled with our Presstek Awards loyalty program, will make doing business with Presstek in Canada even easier,” said Scott McGowan, Marketing Product Manager for Consumables. “In addition, customers who have registered for the Presstek Awards program at www.PresstekAwards.com will automatically accrue points for orders placed online, as well as normal telephone orders.” McGowan points out that orders placed online are eligible for bonus Presstek Awards points. Points can be redeemed for a number of awards, ranging from trips and appliances to electronics and selected Presstek offerings.
The company has also released its third quarter numbers this week which showed the company's revenue decline 5 percent over the same period in 2009, however, and improved adjusted EBITDA of $1.3 million, an improvement of $2.4 million compared to the third quarter of 2009.
"We continued to see sluggish sales results in the third quarter as the increase in our equipment revenue was more than offset by declines in our 'traditional' consumables and service revenue," said Presstek Executive Vice President and Chief Financial Officer, Jeff Cook. "A contributing factor to our overall consumables decline is a shift in buying patterns within the distributor channel, which negatively impacted the current quarter. Despite continued market softness we have maintained our positive adjusted EBITDA levels for the fourth consecutive quarter and reduced our debt net of cash position in the quarter by $1.9 million, to a relatively low $6.9 million."
The company has also announced it has received its initial order for the new 75DI digital press, which was shown at Graph Expo this year.
"We are extremely pleased with the success of our 75DI press at Graph Expo," said Presstek Chairman, President and Chief Executive Officer, Jeff Jacobson. "This is exciting not only because of the interest generated for all of our products at that show, but also because of the way the 75DI is elevating the perception of Presstek within the graphics industry. We have long believed that the 75DI with its revolutionary 6-minute job-to-job turnaround, high quality output and expanded sheet size fits perfectly within our up-market strategy. It was extremely gratifying to see that play out with high profile customers and industry experts at Graph Expo."
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