/ CORRECTION - Presstek Announces Third Quarter 2009 Financial Results

GREENWICH, CT, Nov 09 (MARKET WIRE) --
In the news release, "Presstek Announces Third Quarter 2009 Financial
Results," issued earlier today by Presstek, Inc. (NASDAQ: PRST), we are
advised by the company that the table titled "CONTINUING OPERATIONS
SUPPLEMENTAL FINANCIAL INFORMATION" included a number of incorrect
figures as originally issued. Complete corrected text follows.

Presstek Announces Third Quarter 2009 Financial Results

Improved Sequential Operating Results, Excluding $3.7 Million of
Non-Routine Inventory and Restructuring Charges; New Credit Facility
Expected to Be in Place by December 15; Reaffirming Positive EBITDA
Expected in Q4

GREENWICH, CT -- November 9, 2009 -- Presstek, Inc. (NASDAQ: PRST), a
leading manufacturer and marketer of digital offset printing business
solutions, today reported financial and operating results for the third
quarter ended October 3, 2009. The Company reported total revenue of $33.0
million in the third quarter of 2009, compared with $48.5 million in the
third quarter of 2008, a decline of $15.5 million, or approximately 32
percent. During the third quarter of 2009, the Company incurred a loss
from continuing operations of $6.6 million, or $0.18 per share, including
(on a pre-tax basis) a largely non-cash inventory-related charge of $2.7
million and a restructuring charge of $1.0 million related to the $10
million cost reduction program announced in the second quarter of 2009.
Excluding pre-tax non-routine charges of $3.7 million in the third
quarter of 2009 and $0.4 million in the third quarter of 2008, the loss
from continuing operations would have been $3.0 million, or $0.08 per
share, in the third quarter of 2009, compared with income from continuing
operations of $1.0 million, or $0.03 per share, in the third quarter of
2008. (See "Information Regarding Non-GAAP Measures")

Results from continuing operations exclude the Company's Lasertel
subsidiary, which is currently being marketed for sale and is recorded in
discontinued operations. The Company expects to reach an agreement for the
sale of its Lasertel subsidiary in the fourth quarter of 2009 with a
closing anticipated in the first quarter of 2010. Lasertel's results
improved during the third quarter of 2009 with income from operations, net
of tax, of $0.7 million, compared with a loss from operations, net of tax,
of $0.4 million in the same period last year.

"Although revenues for the quarter continue to be impacted by the global
economic recession, sequential quarterly revenues have stabilized and we
anticipate that revenue will begin to grow," said Presstek Chairman,
President and Chief Executive Officer, Jeff Jacobson. "We have
successfully reduced expenses and managed cash, while staying focused on
our strategic initiatives of expanding our product portfolio and
distribution channels. During the third quarter, we debuted and sold our
first 52DI with aqueous coating capability to Quad/Graphics, the largest
privately held printer in the world, and have already accepted several
additional customer orders. We also introduced Aeon, our first long-run,
non-preheat thermal CTP plate, which will be available by the end of this
year. In addition, we have made tremendous progress expanding our
distribution channels to nearly 60 distributor locations in our Europe,
Africa, Middle East and Asia Pacific regions."

Third Quarter 2009 Financial Results

Total revenue in the third quarter of 2009 was $33.0 million, compared
with $48.5 million in the third quarter of 2008.

?Equipment revenue declined 76 percent to $3.6 million in the third
quarter of 2009, compared with $15.2 million for the same period last year.
Sales of equipment have been negatively impacted by the global economic
recession that has caused credit markets to tighten and customers to delay
major capital investment decisions.

?Consumables revenue totaled $22.2 million in the third quarter of 2009,
compared with $25.1 million for the same period last year. The decline in
consumables revenue was primarily related to lower industry print volume,
as well as lower sales in the Company's "traditional" portfolio of
consumables products as customers continue to migrate from analog to
digital solutions. However, sequential quarterly revenue increased $1.0
million, or 4.9 percent.

?Service revenue declined approximately 12 percent to $7.2 million in the
third quarter of 2009 primarily due to a decrease in the level of
traditional equipment service and lower print volume.

Third quarter 2009 margin was impacted by an abnormally large
inventory charge of $2.7 million to Cost of Goods Sold that lowered gross
margin to 23.3 percent, compared with 34.7 percent in the third quarter
of 2008. Excluding this unusual charge, gross margin in the third quarter
of 2009 would have been 31.5 percent. This charge, which is mostly
non-cash, was driven in large part by lower production volume levels in
Presstek's equipment manufacturing plant and the impact of a change in
certain product strategies. In addition, during the quarter, Presstek
refined the calculations and assumptions used to determine the allocation
of manufacturing spending between period costs and capitalized variances.
The Company is evaluating the need for actions to further enhance its
manufacturing cost efficiencies.

Third quarter 2009 operating expenses declined to $13.9 million,
reflecting a year-over-year improvement of $0.8 million, or 5.7 percent.
Lower expenses resulted primarily from cost reduction activities. During
the second quarter of 2009, the Company implemented a cost reduction
program that is substantially complete and is expected to result in
annualized savings of approximately $10 million. A restructuring charge
of $1.0 million related to the program was recorded in the third quarter
of 2009. Excluding the impact of restructuring charges in both periods,
third quarter 2009 operating expenses were down $1.5 million, or 11
percent, compared with the same period last year.

"During the last two years, we have implemented business improvement
initiatives that have resulted in gross profit and operating expense
improvements of approximately $40 million," said Presstek Executive Vice
President and Chief Financial Officer, Jeff Cook. "With the vast majority
of the cost cutting initiatives complete, we have a cost structure that is
appropriately aligned with our revenue base. I am optimistic that our lean
cost structure combined with the positive sales prospects we are seeing
will lead to positive EBITDA in the fourth quarter of 2009."

Interest expense increased to $0.5 million in the third quarter of 2009,
compared with $0.1 million in the third quarter of 2008. The increase is
due to higher interest rates and a $250,000 fee associated with a
modification of the Company's credit agreement. The Company is in
discussions concerning a new credit facility and expects to have an
arrangement in place on or prior to December 15, 2009 sufficient to repay
the Company's outstanding indebtedness and provide for continuing
operations.

The Company's third quarter 2009 debt net of cash totaled $16.2 million,
compared with $13.3 million in the third quarter of 2008. Debt net of cash
is down 56 percent from its high of $37.0 million in March 2007.

"With the anticipated continued impact of the economy on our financial
results, we had previously indicated that, excluding non-routine charges
in both quarters, our third quarter operating loss would be in line with
our second quarter loss of $3.6 million. In addition, we would be
incurring costs related to Print 09, North America's largest printing
trade show held during the third quarter," added Jacobson. "I am
encouraged that with a third quarter operating loss of $2.4 million,
absent non-routine charges, the business performed better than expected.
With the talented and dedicated employees we have and the steps we have
taken to ensure that we are well positioned to thrive once the economy
turns around, I am confident of the Company's future success."

Information Regarding Non-GAAP Measures

In addition to reporting financial results in accordance with generally
accepted accounting principles, or GAAP, the Company provides non-GAAP
financial measures, including income (loss) from continuing operations,
excluding non-routine charges; operating income (loss), excluding
non-routine charges; gross margin, excluding non-routine charges;
operating expenses, excluding the impact of restructuring charges; EBITDA
from continuing operations; cash earnings from continuing operations,
excluding non-routine charges; working capital, excluding short-term
debt; debt net of cash and other GAAP measures adjusted for certain
charges, which the Company believes are useful to help investors better
understand its past financial performance and prospects for the future. A
full reconciliation of GAAP to non-GAAP measures is provided in the
financial tables below. Supplemental financial information has been
provided with this release to provide additional details on the Company's
performance.

Conference Call and Webcast Information

Management will discuss Presstek's third quarter 2009 results in a
conference call on Monday, November 9, 2009 at 10:30 a.m. Eastern Time.
Conference call information is below:

Conference Call Access:
Domestic Dial In: (888) 396-2386
International Dial In: (617) 847-8712
Passcode: 14582468

In addition, for those unable to participate at the time of the call,
a rebroadcast will be available following the call from Monday, November
9, 2009 at 1:30 PM Eastern Time until Friday, November 16, 2009 Eastern
Time at 11:59 PM.

Rebroadcast Access:
Domestic Dial In: 888-286-8010
International Dial In: 617-801-6888
Passcode: 30398536

An archived webcast of this conference call will also be available on
the "Investor Events Calendar" page of the Company's web site,
www.presstek.com.

About Presstek

Presstek, Inc. is a leading manufacturer and marketer of high tech
digital imaging solutions to the graphic arts and laser imaging markets.
Presstek's patented DI(R), CTP and plate products provide a streamlined
workflow in a chemistry-free environment, thereby reducing printing cycle
time and lowering production costs. Presstek solutions are designed to
make it easier for printers to cost effectively meet increasing customer
demand for high-quality, shorter print runs and faster turnaround while
providing improved profit margins. Presstek subsidiary, Lasertel, Inc.,
manufactures semiconductor laser diodes for Presstek's and external
customers' applications. For more information visit www.presstek.com, or
call 603-595-7000 or email: info@presstek.com. DI is a registered
trademark of Presstek, Inc.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995:

Certain statements contained in this News Release constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995, including statements regarding expected
revenue, gross margins, operating income (loss), EBITDA, asset
impairments, expectations concerning the level of costs, the level of
customer demand, the results of the Company's cost reduction measures,
the Company's expectation concerning the sale of its Lasertel subsidiary,
the ability of the Company to achieve its stated objectives, and the
Company's expectations concerning its ability to obtain a new credit
facility. Such forward-looking statements involve a number of known and
unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially
different from any future results, performance or achievements expressed
or implied by such forward-looking statements. Such factors include, but
are not limited to: the severity and length of the current economic
downturn, the impact of the economic downturn on the availability of
credit for the Company's customers, the ability of the Company to
continue to have access to its revolving credit facility, the ability of
the Company to obtain an adequate credit facility to replace its current
credit facility and provide for operations, the Company's ability to
successfully market its Lasertel subsidiary for sale, market acceptance
of and demand for the Company's products and resulting revenue, the
ability of the Company to successfully expand into new territories, the
ability of the Company to meet its stated financial and operational
objectives, the Company's dependence on its partners (both manufacturing
and distribution), the results of the pending formal investigation by the
Securities and Exchange Commission and the impact of any civil penalty on
the Company, the ability of the Company's insurer to fund certain costs
associated with the SEC investigation, and other risks and uncertainties
detailed in the Company's 2008 Annual Report on Form 10-K and the
Company's other reports on file with the Securities and Exchange
Commission. The words "looking forward," "looking ahead," "believe(s),"
"should," "may," "expect(s)," "anticipate(s)," "project(s)," "likely,"
"opportunity," expressions of optimism concerning future events or
results, and similar expressions, among others, identify forward-looking
statements. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date the statement
was made. The Company undertakes no obligation to update any
forward-looking statements contained in this news release.

PRESSTEK, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per-share data)
(Unaudited)

Three months ended Nine months ended
October September October September
3, 27, 3, 27,
2009 2008 2009 2008
--------- --------- --------- ---------

Revenue
Equipment $ 3,627 $ 15,235 $ 13,827 $ 42,957
Consumables 22,150 25,053 65,170 81,807
Service and parts 7,229 8,246 21,979 26,170
--------- --------- --------- ---------
Total revenue 33,006 48,534 100,976 150,934
--------- --------- --------- ---------

Cost of revenue
Equipment 8,152 12,937 18,015 37,207
Consumables 11,982 12,652 35,603 41,452
Service and parts 5,172 6,096 16,528 19,561
--------- --------- --------- ---------
Total cost of revenue 25,306 31,685 70,146 98,220
--------- --------- --------- ---------

Gross profit 7,700 16,849 30,830 52,714
--------- --------- --------- ---------

Operating expenses
Research and development 1,379 1,059 3,803 3,697
Sales, marketing and customer
support 6,276 7,088 19,525 22,411
General and administrative 4,946 5,932 17,239 18,321
Amortization of intangible
assets 225 258 712 823
Restructuring and other
charges 1,040 374 1,162 1,569
Goodwill impairment - - 19,114 -
--------- --------- --------- ---------
Total operating expenses 13,866 14,711 61,555 46,821
--------- --------- --------- ---------

Income (loss) from operations (6,166) 2,138 (30,725) 5,893
Interest and other expense, net (745) (359) (531) (646)
--------- --------- --------- ---------

Income (loss) from continuing
operations before income taxes (6,911) 1,779 (31,256) 5,247
Provision for income taxes (264) 1,153 16,366 2,731
--------- --------- --------- ---------

Income (loss) from continuing
operations (6,647) 626 (47,622) 2,516
Income (loss) from discontinued
operations, net of income
taxes $ 706 $ (431) $ (959) $ (1,536)
--------- --------- --------- ---------

Net income (loss) $ (5,941) $ 195 $ (48,581) $ 980
========= ========= ========= =========

Earnings (loss) per share -
basic
Income (loss) from continuing
operations $ (0.18) $ 0.02 $ (1.30) $ 0.07
Income (loss) from
discontinued operations 0.02 (0.01) (0.02) (0.04)
--------- --------- --------- ---------
$ (0.16) $ 0.01 $ (1.32) $ 0.03
========= ========= ========= =========

Earnings (loss) per share -
diluted
Income (loss) from continuing
operations $ (0.18) $ 0.02 $ (1.30) $ 0.07
Income (loss) from
discontinued operations 0.02 (0.01) (0.02) (0.04)
--------- --------- --------- ---------
$ (0.16) $ 0.01 $ (1.32) $ 0.03
========= ========= ========= =========

Weighted average shares
outstanding
Weighted average shares
outstanding - basic 36,638 36,603 36,668 36,586
Dilutive effect of stock
options - 13 - 12
--------- --------- --------- ---------
Weighed average shares
outstanding - diluted 36,638 36,616 36,668 36,598
========= ========= ========= =========

PRESSTEK, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands)
(Unaudited)

October 3, January 3,
2009 2009
--------- ---------

ASSETS
Current assets
Cash and cash equivalents $ 7,220 $ 4,738
Accounts receivable, net 24,609 30,759
Inventories 33,134 37,607
Assets of discontinued operations 14,743 13,330
Deferred income taxes 503 7,066
Other current assets 2,693 4,095
--------- ---------
Total current assets 82,902 97,595

Property, plant and equipment, net 24,744 25,530
Goodwill - 19,114
Intangible assets, net 4,190 4,174
Deferred income taxes 739 10,494
Other noncurrent assets 497 606
--------- ---------

Total assets $ 113,072 $ 157,513
========= =========

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Current portion of long-term debt and capital lease
obligation $ 834 $ 4,074
Line of credit 22,612 12,415
Accounts payable 10,189 12,060
Accrued expenses 9,286 13,261
Deferred revenue 6,818 7,300
Liabilities of discontinued operations 5,801 5,702
--------- ---------
Total current liabilities 55,540 54,812

Other long-term liabilities 151 170
--------- ---------

Total liabilities 55,691 54,982
--------- ---------

Stockholders' equity
Preferred stock - -
Common stock 368 366
Additional paid-in capital 119,604 117,985
Accumulated other comprehensive loss (4,144) (5,954)
Accumulated deficit (58,447) (9,866)
--------- ---------
Total stockholders' equity 57,381 102,531
--------- ---------

Total liabilities and stockholders' equity $ 113,072 $ 157,513
========= =========

PRESSTEK, INC.
CONTINUING OPERATIONS SUPPLEMENTAL FINANCIAL INFORMATION
$000's
(Unaudited)

Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009
-------- -------- --------- ---------- ----------
Key Units
DI Presses
(Excludes QMDI) 37 25 13 11 12
CtP Platesetters
(Excludes DPM) 36 35 24 21 15

Revenue - Growth
Portfolio
DI Presses
(Excludes QMDI) 12,867 7,528 3,521 3,732 2,923
Presstek Branded
DI Plates 4,653 4,661 4,025 4,301 4,318
-------- -------- --------- ---------- ----------
Total DI Revenue 17,520 12,189 7,546 8,033 7,241

Presstek CtP
Platesetters
(Excludes DPM) 2,228 2,039 1,109 1,505 1,081
Chemistry Free CtP
Plates 4,064 4,402 3,426 3,678 3,745
-------- -------- --------- ---------- ----------
Total CtP Revenue 6,292 6,441 4,535 5,183 4,826

Service Transfer (976) (1,176) (601) (603) (596)
Service Revenue 2,804 3,002 2,723 2,588 2,603

-------- -------- --------- ---------- ----------
Total Revenue -
Growth Portfolio 25,640 20,456 14,203 15,201 14,074
======== ======== ========= ========== ==========

Revenue - Traditional
Portfolio
QMDI Platform 3,456 3,417 2,962 2,987 3,056
Polyester CtP
Platform 4,077 3,601 3,575 3,178 3,228
Other DI Plates 2,059 1,693 1,295 1,128 1,438
Conventional/Other 7,943 7,916 7,775 6,608 6,772
-------- -------- --------- ---------- ----------
Total Product
Revenue -
Traditional 17,535 16,627 15,607 13,901 14,494

Service Transfer (85) (102) (190) (190) (188)
Service Revenue -
Traditional 5,444 5,336 4,840 4,598 4,626

-------- -------- --------- ---------- ----------
Total Revenue -
Traditional
Portfolio 22,894 21,861 20,257 18,309 18,932
======== ======== ========= ========== ==========

-------- -------- --------- ---------- ----------
Total Revenue 48,534 42,318 34,460 33,510 33,006
======== ======== ========= ========== ==========

Product Revenue
Components %
Growth 52.8% 48.3% 41.2% 45.4% 42.6%
Traditional 47.2% 51.7% 58.8% 54.6% 57.4%

Geographic Revenues
(Origination)
North America 35,244 32,374 26,715 26,076 26,810
Europe 13,290 9,944 7,745 7,434 6,196
-------- -------- --------- ---------- ----------
Consolidated 48,534 42,318 34,460 33,510 33,006
======== ======== ========= ========== ==========

Gross Margin
Presstek
Equipment 15.1% 11.7% 5.9% 0.9% -124.8%
Consumables 49.5% 51.2% 46.7% 43.5% 45.9%
Service 26.1% 29.7% 20.8% 25.3% 28.5%
-------- -------- --------- ---------- ----------
Consolidated 34.7% 37.9% 35.1% 32.9% 23.3%
======== ======== ========= ========== ==========

Operating Expense
(Excluding Special
Charges) (A) $ 14,337 $ 16,409 $ 13,851 $ 14,602 $ 12,826

Profitability
Net income (loss) $ 195 $ (456) $ (1,191) $ (41,449) $ (5,941)
Add back: Loss
from discontinued
operations 431 1,070 85 1,580 (706)
-------- -------- --------- ---------- ----------
Net income (loss)
from continuing
operations 626 614 (1,106) (39,869) (6,647)
Add back:
Interest 147 121 56 110 491
Other (income)
expense 212 (1,705) (516) 136 254
Tax charge
(benefit) 1,153 49 (275) 16,905 (264)
Impairment /
Other charges - - - 19,114 2,700
Non cash portion
of equity
compensation
(2006 forward
123R related) 498 482 457 505 389
Restructuring
and Other
charges 374 539 84 38 1,040
-------- -------- --------- ---------- ----------
Operating income
(loss) from
continuing
operations 3,010 100 (1,300) (3,061) (2,037)
Add back:
Depreciation
and
amortization 1,379 1,172 1,191 1,150 1,231
Other income
(expense) (212) 1,705 516 (136) (745)
-------- -------- --------- ---------- ----------
EBITDA From
Continuing
Operations (A) $ 4,177 $ 2,977 $ 407 $ (2,047) $ (1,551)
======== ======== ========= ========== ==========

Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009
-------- -------- --------- ---------- ----------
Cash Earnings From
Continuing
Operations
Income (loss) from
continuing
operations 626 614 (1,106) (39,869) (6,647)
Add back:
Restructuring
and Other
charges 374 539 84 38 1,040
Impairment /
Other charges - - - 19,114 2,700
Depreciation
and
amortization 1,379 1,172 1,191 1,150 1,231
Non cash portion
of equity
compensation
(2006 forward
123R related) 498 482 457 505 389
Non cash portion
of taxes 749 36 (454) 17,071 (299)
-------- -------- --------- ---------- ----------
Cash Earnings
From
Continuing
Operations (A) 3,626 2,843 172 (1,991) (1,586)
======== ======== ========= ========== ==========

Working Capital
Current assets
(excluding net
assets of
discontinued
operations) $ 93,152 $ 84,263 $ 83,850 $ 73,994 $ 68,159
-------- -------- --------- ---------- ----------
Current
liabilities
Short-term debt 15,130 16,489 14,941 17,592 23,446
All other current
liabilities 37,163 32,575 33,847 31,345 26,293
-------- -------- --------- ---------- ----------
Current
liabilities 52,293 49,064 48,788 48,937 49,739
-------- -------- --------- ---------- ----------
Working capital 40,859 35,199 35,062 25,057 18,420
Add back
short-term debt 15,130 16,489 14,941 17,592 23,446
-------- -------- --------- ---------- ----------
Working capital,
excluding
short-term
debt (A) $ 55,989 $ 51,688 $ 50,003 $ 42,649 $ 41,866
======== ======== ========= ========== ==========

Debt net of cash (A)
Calculation of
total debt:
Current portion
of long-term
debt $ 3,240 $ 4,074 $ 2,454 $ 1,644 $ 834
Line of credit 11,890 12,415 12,487 15,948 22,612
Long-term debt,
net of current
portion 834 - - - -
-------- -------- --------- ---------- ----------
Total debt 15,964 16,489 14,941 17,592 23,446
Cash 2,634 4,738 5,262 4,453 7,220
-------- -------- --------- ---------- ----------
Debt net of
cash $ 13,330 $ 11,751 $ 9,679 $ 13,139 $ 16,226
======== ======== ========= ========== ==========

Days Sales
Outstanding 60 69 74 69 66

Days Inventory
Outstanding 87 87 100 105 99

Capital Expenditures $ 437 $ 831 $ 180 $ 238 $ 257

Employees 622 608 612 608 553

A. Operating expenses, excluding special charges and EBITDA from
continuing operations [earnings before interest, taxes, depreciation,
amortization and restructuring and merger-related charges (credits)];
Working capital, excluding short-term debt; Debt net of cash; and Cash
earning from continuing operations are not measures of performance under
accounting principles generally accepted in the United States of America
("GAAP") and should not be considered alternatives for, or in isolation
from, the financial information prepared and presented in accordance with
GAAP. Presstek's management believes that EBITDA provides meaningful
supplemental information regarding Presstek's current financial
performance and prospects for the future. Presstek's management believes
that Cash earnings from continuing operations provide meaningful
supplemental information regarding Presstek's current financial
performance and prospects for the future. Presstek's management believes
that Working capital, excluding short-term debt, provides meaningful
supplemental information regarding Presstek's ability to meet its current
liability obligations. Presstek's management believes that Debt net of
cash provides meaningful information on Presstek's debt relative to its
cash position. Presstek believes that both management and investors
benefit from referring to these non-GAAP measures in assessing the
performance of Presstek's ongoing operations and liquidity, and when
planning and forecasting future periods. These non-GAAP measures also
facilitate management's internal comparisons to Presstek's historical
operating results and liquidity. Our presentations of these measures,
however, may not be comparable to similarly titled measures used by other
companies. Reconciliations of these measures to GAAP are included in the
tables above.

** Certain amounts may be subject to reclassification to conform to
current
presentation.

Reconciliation of GAAP amounts to Non-GAAP amounts
(Dollar amounts in thousands)

Three months ended Three months ended
October 3, 2009 September 27, 2008
---------------------------- ----------------------------
GAAP Adjust- Non-GAAP GAAP Adjust- Non-GAAP
amounts ments amounts amounts ments amounts
-------- --------- -------- -------- -------- --------
Revenue $ 33,006 $ - $ 33,006 $ 48,534 $ - $ 48,534
Gross profit 7,700 2,700 10,400 16,849 - 16,849
23.3% 31.5% 34.7% 34.7%
Operating
expenses 13,866 1,040 12,826 14,711 374 14,337
Operating
income (6,166) 3,740 (2,426) 2,138 374 2,512
Income before
income taxes (6,911) 3,740 (3,171) 1,779 374 2,153
Provision for
income taxes (264) 127 (137) 1,153 (34) 1,119
Income (loss)
from
continuing
operations (6,647) 3,613 (3,034) 626 408 1,034
Loss from
discontinued
operations,
net of income
taxes 706 706 (431) (431)
Net income (5,941) (2,328) 195 603

Earnings (loss)
per share from
continuing
operations $ (0.18) $ 0.10 $ (0.08) $ 0.02 $ 0.01 $ 0.03

Three months ended Three months ended
October 3, 2009 July 4, 2009
---------------------------- ----------------------------
GAAP Adjust- Non-GAAP GAAP Adjust- Non-GAAP
amounts ments amounts amounts ments amounts
-------- --------- -------- -------- --------- --------
Revenue $ 33,006 $ - $ 33,006 $ 33,510 $ - $ 33,510
Gross profit 7,700 2,700 10,400 11,036 - 11,036
Operating
expenses 13,866 1,040 12,826 33,754 19,152 14,602
Operating loss
excluding
non-routine
charges (6,166) 3,740 (2,426) (22,718) 19,152 (3,566)

Adjustments represent non-routine charges for non-cash inventory
write-downs and restructuring charges in Q309, restructuring charges in
Q308, goodwill impairment and restructuring charges in Q209.

CONTACTS:
Investor Relations
Linda Lennox
(203) 275-6292
Email Contact

Trade Relations
Brian Wolfenden
(603) 594-8585, ext. 3435
Email Contact

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