Presstek Reports Financial Results for the First Quarter; Reaffirms Expectation of Positive Adjusted EBITDA for 2012

First quarter operating expenses declined $3.2 million, or 28%, to $8.0 million compared with the prior year period. The decline in operating expenses was primarily related to reduced payroll and other costs resulting from recent cost reduction initiatives, as well as reduced bad debt and stock compensation expenses. (See "Information Regarding Non-GAAP Measures")