Jim Cramer Blog

Presstek (NASDAQ:PRST - News) shares slumped after the company lowered its financial outlook for the third quarter, citing softness in its analog business, delays in the timing of certain digital equipment transactions, the stoppage of sales its Vector CTP product due to manufacturing issues, and weak DI plate sales due to major original equipment manufacturing partners lowering their inventories. The Hudson, N.H., maker of high tech digital imaging systems now sees revenue of between $65 million and $66 million for the quarter and a loss of about 2 cents a share. Its previous view was for revenue in the third quarter to be sequentially flat with its second-quarter total of $74.2 million.
Source: Marketwatch