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Presstek Plunges

Presstek (PRST) plunged 19% Friday after the digital imaging outfit forecast a third-quarter loss on weak sales.

The Hudson, N.H., company expects to lose 2 cents a share on revenue of $65 million to $66 million. The company had expected revenue of around $74 million.

Presstek cited soft analog business in the equipment, consumables and service areas. It said it wasn't able to close some digital equipment deals. And it said it stopped making its Vector CTP product to fix manufacturing problems.

"We expect to have a better quarter in Q4, but, based on the current trends, we do not expect to realize the anticipated 10% growth in consolidated revenues this year," said CEO Edward Marino.

Shares fell $1.19 to $5.04.

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