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HOWTEK INC. ANNOUNCES 1991 YEAR END RESULTS

 HOWTEK INC. ANNOUNCES 1991 YEAR END RESULTS
 HUDSON, N.H., Feb. 24 /PRNewswire/ -- Howtek, Inc. (AMEX: HTK)


today announced summary results of its operations for the year ended Dec. 31, 1991, reporting revenues of $11,878,000, a decrease of 45 percent from revenues of $21,663,000 recorded in 1990. The company also reported revenues of $2,798,000 for the fourth quarter of 1991, a decrease of 27 percent from revenues of $3,854,000 recorded during the same period in 1990. The company attributed lower sales for the year to the ongoing slowdown in the world economy and increasing competition in the digital desktop color scanner market. The company's 1991 sales of its Colorscan system were significantly lower than in 1990, as economic conditions in both the domestic and international newspaper markets continue to force deferral of capital expenditures. While the company expects this condition will continue to impact sales in the newspaper market, improvements in Colorscan software and hardware, and an expansion of the domestic sales channel, should provide an opportunity for additional revenues in the commercial prepress market in 1992.
 The company reported a ($5,037,000) loss for the year, or (67 cents) per share, compared to a loss of ($2,323,000) or (31 cents) per share for 1990. The company also recorded a fourth quarter loss of ($754,000), or (10 cents) per share, compared to a loss of ($3,559,000), or (47 cents) per share, recorded during the same period in 1990. The loss of $754,000 includes a net gain of $380,000 from a previously announced settlement of a claim against a foreign supplier.
 During the fourth quarter, the company shipped its first Scanmaster D4000 drum scanner, and has subsequently shipped additional units in the first quarter of 1992 to prospective OEMs and value added resellers. The D4000 scans a 10" x 10" area at resolutions ranging from 50 to 4000 dpi. In contrast to Howtek's family of low cost CCD array flat bed scanners, the Scanmaster D4000 employs a photomultiplier tube technology. The D4000 has a retail price of $39,700 and is targeted at the professional high end graphic arts publishing and printing markets. The D4000 will be available for quantity shipments in the first quarter of 1992, and will be sold as both an OEM peripheral product and an input scanning station for the company's Colorscan system. Howtek's President David Bothwell stated, "The product attributes of quality, ease of interface, user friendliness, and affordability make this product very attractive to the professional graphic arts/publishing marketplace. The initial reaction of companies evaluating the product has been quite positive."
 Howtek was founded in 1984 by Robert Howard, who was also founder of Centronics Data Computer Corp. in 1969 and co-founder and chairman of Presstek, Inc. in 1987. Howtek's product offering includes: COLORSCAN(R), a complete prepress color separation and page make-up system for newspapers, publishers and graphics arts markets; SCANMASTER(tm), a series of flatbed, 35mm, and drum scanners. The company also offers workstations for design, composition, image capture and output, which operate interactively on local area networks incorporating various Howtek peripherals and proprietary software.
 Howtek is a publicly held corporation whose stock is traded on the American Stock Exchange under the symbol HTK. SCANMASTER and COLORSCAN are Howtek trademarks.
 HOWTEK, INC.
 Consolidated Statement of Operations
 Three Months Ended Year Ended
 Dec. 31, Dec. 31,
 (unaudited)
 1991 1990 1991 1990
Revenues $2,798,450 $3,853,691 $11,877,999 $21,662,509
Cost of sales 1,344,289 3,502,213 7,620,388 14,098,043
Gross profit 1,454,161 351,478 4,257,611 7,564,466
Operating costs 2,122,231 2,859,510 8,819,291 8,815,184


Non-recurring
 expense - 0 - 1,000,000 - 0 - 1,000,000
Other expenses 86,212 50,734 474,864 71,977
Net income (loss) (754,282) (3,558,766) (5,036,544) (2,322,695)
Net income (loss) per share (10 cents) (47 cents) (67 cents)


(31 cents)

Weighted shares
 outstanding 7,581,152 7,565,435 7,565,709 7,556,714
 -0- 2/24/92
 /CONTACT: Connie Webster of Howtek, 603-882-5200/
 (HTK) CO: Howtek, Inc. ST: New Hampshire IN: PUB SU: ERN


PB-TM -- NE007 -- 1717 02/24/92 08:45 EST
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