Notification of Late Filing
U.S.
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
12b-25
NOTIFICATION
OF LATE FILING
SEC
File
Number 000-17541
CUSIP
Number 743113 10 4
(Check
One):
[ ]
Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K [X ] Form 10-Q and Form
10-QSB
[
] Form
N-SAR
For
Period Ended: September
29, 2007
[
]Transition
Report on Form 10-K
[
]Transition
Report on Form 20-F
[
]Transition
Report on Form 11-K
[
]Transition
Report on Form 10-Q
[
]Transition
Report on Form N-SAR
For
the
Transition Period Ended:
Read
Attached Instruction Sheet Before Preparing Form. Please Print or
Type.
Nothing
in this form shall be construed to imply that the Commission has verified any
information contained herein.
If
the
notification relates to a portion of the filing checked above, identify the
Item(s) to which the notification relates:
Part
I - Registrant Information
Full
Name
of Registrant:
PRESSTEK, INC.
Former
Name if Applicable
Address
of Principal Executive Office (Street
and Number)
55
Executive Drive
City,
State and Zip Code
Hudson,
NH 03051
Part
II - Rules 12b-25(b) and (c)
If
the
subject report could not be filed without unreasonable effort or expense and
the
registrant seeks relief pursuant to Rule 12b-25(b), the following should be
completed. (Check box if appropriate)
|
x
|
(a)
|
The
reasons described in reasonable detail in Part III of this form could
not
be eliminated without unreasonable effort or expense;
|
|
¨
|
(b)
|
The
subject annual report, semi-annual report, transition report on Form
10-K,
10-KSB, Form 20-F, 11-K, Form N-SAR, or portion thereof, will be
filed on
or before the fifteenth calendar
day following the prescribed due date; or the subject quarterly report
or
transition report on Form 10-Q, 10-QSB, or portion thereof will be
filed
on or before the fifth calendar day following the prescribed due
date;
and
|
|
¨
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(c)
|
The
accountant’s statement or other exhibit required by Rule 12b-25(c) has
been attached if applicable.
|
Part
III - Narrative
State
below in reasonable detail the reasons why Form 10-K and Form 10-KSB, 20-F,
11-K, 10-Q and Form 10-QSB, N-SAR, or the transition report or portion thereof,
could not be filed within the prescribed time period. (Attach Extra Sheets
if
Needed)
The
Company is unable to file its Quarterly Report on Form 10-Q for the quarter
ended September 29, 2007 within the prescribed time for the reasons described
below.
In
the
third quarter of fiscal 2007, Presstek conducted a worldwide review of inventory
and, in conjunction with an examination of operations directed by the new senior
management team, the Company is reviewing receivables from certain distributors
in Europe as well as certain European revenue recognition practices. The Company
requires additional time to evaluate the impact of these reviews and to complete
the Company’s financial statements for inclusion in the Form 10-Q.
Part
IV - Other Information
(1) Name
and
telephone number of person to contact in regard to this
notification
Jeffrey
A. Cook
603
595-7000
(Name) (Area
Code) (Telephone
Number)
(2) Have
all
other periodic reports required under Section 13 or 15(d) of the Securities
Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during
the preceding 12 months or for such shorter period that the registrant was
required to file such report(s) been filed? If the answer is no, identify
report(s). Yes [X] No [ ]
(3) Is
it
anticipated that any significant change in results of operations from the
corresponding period for the last fiscal year will be reflected by the earnings
statements to be included in the subject report or portion thereof? Yes [X]
No [
]
The
Company's results of operations as reflected in its earnings statements for
the
third quarter of 2007 are expected to be different from the third quarter of
2006. A reasonable estimate of the results of operations for the third
quarter of 2007 is not currently available due to the ongoing review of the
matters described in Part III. The areas in which significant changes are
expected to or may occur include the following:
i)
A
write-down of inventory due to an entity-wide physical inventory conducted
in
the third quarter of fiscal 2007 and a review of product life and the
methodology of determining the provision for excess and obsolete
inventory.
ii)
An
increase in the reserve for doubtful accounts associated with a review of
receivables.
iii)
Increased stock-based compensation expense in the third quarter of 2007 as
compared to the third quarter of fiscal 2006.
iv)
Increased professional service fees in the third quarter of fiscal 2007 as
compared to the third quarter of fiscal 2006.
PRESSTEK,
INC.
(Name
of
Registrant as Specified in Charter)
has
caused this notification to be signed on its behalf by the undersigned hereunto
duly authorized.
Date:
November 9, 2007 By:/s/
James Van Horn
Name:
James Van Horn
Title:
Vice-President and General Counsel