EL SEGUNDO, Calif., Oct. 27 /PRNewswire-FirstCall/ -- Peerless Systems Corporation (Nasdaq: PRLS), a provider of imaging and networking technologies to the digital document market, announced today that it anticipates that its revenues for the quarter ending October 31, 2010 will be in the range of $2.4 to $2.6 million and its gross profits for the quarter are expected to be in the range of $1.5 to $1.7 million. Approximately 70-75% of the estimated revenues for the quarter are for non-recurring sales of perpetual licenses. The Company commenced a tender offer on October 5, 2010 to repurchase from its stockholders up to $45 million of its common stock at a price of $3.25 per share, net to the seller in cash, less any applicable withholding taxes and without interest, upon the terms and subject to the conditions set forth in the Offer to Purchase, dated October 1, 2010 ("Offer to Purchase"), and the related Letter of Transmittal. The tender offer will remain open until 5:00 p.m., New York City time, on November 4, 2010, unless extended by the Company. Under the terms of the offer, stockholders may tender all or a portion of their shares. If the offer is oversubscribed by stockholders, the Company will purchase shares on a pro rata basis in accordance with the number of shares tendered, with appropriate adjustments to avoid purchases of fractional shares until the Company has purchased 13,846,153 shares. Neither the Company nor its Board of Directors makes any recommendation to stockholders as to whether to tender and, if so, how many shares to tender, or to refrain from tendering their shares. Stockholders should carefully evaluate all information in the Offer to Purchase and the related Letter of Transmittal, consult with their own financial and tax advisors, and make their own decisions about whether to tender shares, and, if so, how many shares to tender. The tender offer is subject to market, economic and business conditions affecting the Company and other customary conditions.