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Baldwin Technology Company, Inc. (AMEX: BLD) Shares Move Higher on Fourth Quarter and Fiscal Year 2008 Financial Results

Baldwin Technology Company, Inc. (AMEX: BLD), a leading global manufacturer of printing press accessories and controls for the commercial and newspaper printing industries, recently announced its financial results for the fourth quarter and fiscal year-end 2008. Baldwin Technology’s stock price moved higher earlier this week on the news of net sales surpassing $65.3 million, a year-over-year increase of $8.4 million or 14.8 percent, and net income of $3.1 million or $0.20 per diluted share, down slightly from the same period one year earlier.

The company also reported net sales for the fiscal year ended June 30, 2008, which totaled $236.3 million or a 17.3 percent increase over net sales of $201.5 million for the year ended June 30, 2007. Baldwin Technology’s net income for the 2008 fiscal year posted a slight decline, coming in at $6.4 million or $0.41 per diluted share compared to $6.6 million or $0.42 per diluted share for the prior year.

John P. Jordan, the chief financial officer of Baldwin Technology, recently stated that the company recorded expansion in nearly all product lines, with healthy growth from recurring revenues in parts, service and consumables. The company’s strategic sourcing initiatives and improvements in production efficiencies help Baldwin Technology to maintain reasonable margins in a challenging economic environment. Senior management plans to continue to produce improvement in working capital levels and operating cash flow in 2009.

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