Presstek Inc. has reported 3rd-quarter income for 2008 of $0.6 million ($0.02 per share) versus a loss of $2.7 million ($0.07 per share) in the third quarter of 2007. Results from continuing operations exclude Presstek’s Lasertel affiliate. “While the economic environment continues to challenge our revenues, we’re pleased that the aggressive business improvement actions and operating disciplines we initiated a year ago have resulted in our 3rd consecutive quarter of profitability,” says Presstek President and CEO, Jeff Jacobson. “Our continually improving financial position during these turbulent times has allowed us to remain focused on the execution of our strategic initiatives, which include the broadening of our product portfolio, international expansion and our migration into larger print establishments.”

As expected, the company completed the sale of its Lasertel land and building in Tucson, Arizona for $8.75 million. The net proceeds of this sale, as well as continued operational cash flow improvements, resulted in debt net of cash of $13.3 million at the end of the quarter, a $17.5 million or 57% reduction from the third quarter of 2007.