Company Address:
Baldwin Technology Company, Inc.
2 Trap Falls Rd., Suite 402

Shelton, CT
06484
USA
 Phone:
(203) 402-1000
 Website:
www.baldwintech.com
 Ticker:
BLD
 Exchange:
NYSE Amex
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2 Trap Falls Rd., Suite 402 • Shelton • CT • 06484 • USA • www.baldwintech.com
Investor Contact: Frank N. Hawkins, Jr. or Julie Marshall · Hawk Associates Inc. · (305) 451-1888 · www.hawkassociates.com
FY Q4 Net Sales $37.4 Million, Net Income $0.09 Diluted EPS. FY 2010 Net Sales $151.8 Million, Net Income $0.32 Diluted EPS. Total Year Cash Flow from Operations $11.5 Million
ALERT: Baldwin released Fiscal 2010 year-end earnings on Tuesday, August 31, 2010. The company will host a conference call on the same day at 11:00 AM Eastern Daylight Time to review the financial results and respond to questions and comments.

To participate, call (800) 619-4043 any time after 10:50 AM Eastern Time. The number for local and international calls is (415) 228-5043. The passcode is “Baldwin year-end.” Interested parties may also listen to a webcast of the call on the company’s website, http://www.baldwintech.com.

Baldwin Technology Company is a leading supplier of process automation technology for the printing and publishing industry worldwide. The company provides an extensive range of market-leading technologies, products, systems and related consumables that enhance the quality of printed products, improve the economics and reduce the environmental impact of the printing process.

Baldwin maintains product development, manufacturing and sales and service facilities in 10 countries. During fiscal year 2009, 48% of Baldwin's revenues were generated in Europe, while 29% of its revenues were from Asia/Australia and the remaining 23% from the Americas

The company’s products and systems make it easier to clean key areas of the press, manage temperature, chemistry, ink and water balances, protect against paper breaks and speed the curing and drying of printed materials. Products are priced from less than $100 to approximately $75,000.

The company sells and markets its products through dealers, distributors and direct sales representatives around the world. Providing a balanced revenue base, approximately 48% of Baldwin’s net sales are to OEM press manufacturers and 52% are sales made directly to printers and publishers. Manufacturers incorporate the company’s products into their own printing systems prior to sale. Printers and publishers use Baldwin products to improve the performance and economics of their printing operations. The company’s products help all parties meet the increasingly demanding requirements of environmental regulations and safety issues.

Baldwin has more than 100 patents relating to its advanced pressroom technology and has received several GATF Intertech awards and Fogra certifications. It also relies on unpatented proprietary technologies and processes, including engineering required to adapt its products to a wide range of models of printing presses. R&D has been important in establishing and maintaining the company’s position as a market leader.

Established in 1918, Baldwin went through a management-led buyout in 1985. The company's initial public offering was in 1987 on the American Stock Exchange (now NYSE Amex)

Most of Baldwin’s business is driven by offset printing, the largest sector of the domestic and international printing markets. Offset printing is used for printing books, magazines, business forms, catalogs, greeting cards, packaging and newspapers.

Differentiators

Mergers and Alliances



In 2009 Baldwin added four new alliance partners including Q.I. Press Controls, Swedish in-line stiching company Tolerans, German ink supply specialist Betz Technologies and industry-leading provider of UV/IR curing systems, Nordson UV. Since 2006, Baldwin has concluded mergers or partnerships with a number of companies including Falk (Germany) for filtration technology, Oxy-Dry (U.S., Germany) for brush cleaning technology, Robatech (Switzerland) for gluing systems, Hildebrand Systems (Switzerland) for paper dust removal, Thermal Care/AWS (U.S.) for dampening conditioning and temperature control and Eltex Electrostatic (Germany) for UV technology for newspaper applications.

These relationships have played a valuable role in driving revenue growth by expanding Baldwin’s product lines and enhancing the company’s competitive technological advantages. This has further strengthened the company’s position as a global leader in the $1 billion process automation equipment sector of the printing equipment market and the $0.75 billion specialty chemicals sector of the consumables market in which the company operates.

In the Americas, Baldwin operates in North, Central and South America through its U.S. subsidiaries and a dealer network in Latin America. In Europe, the company operates through subsidiaries in the U.K., Germany, France, Sweden and Italy. In Asia, Baldwin operates through subsidiaries in China, India, Japan and Australia. All subsidiaries are wholly owned except for two, of which Baldwin holds 90% and 80% interests. Recent News
Baldwin Announces Q4 and Full Year FY2010 Profit
Baldwin Schedules Earnings Announcement
Baldwin Wins Large Newspaper Retrofit Order
Baldwin Japan Secures $1.7 Million Additional Orders
Baldwin Closes Acquisition of Nordson UV Ltd.

    Risk Factors
  • Exchange rate risk
  • Growth of international printing industry
  • Political and economic risk in certain international markets
  • Infringement of intellectual property rights

The Outlook Baldwin said in its FQ3'10 report that tight cost controls, as evidenced by continued operating expense reduction, helped return Baldwin to profitability this quarter. The company also made solid progress in the execution of its strategy by focusing on opportunities on the installed base, leveraging its technology in emerging countries and further enhancing its business with press room consumables. Baldwin received several orders this quarter in China and India for the new Cobra Spray Dampening system, which was developed for production and sale to both OEMs and end users in those local markets. BLD also secured retrofit orders in China for combination brush and cloth cleaning systems. Management said the company is continuing the expansion of its European consumables sales network as it introduces new high performance Prepac® cleaning consumables.

"Our parts and consumables business has grown and although a recovery in new web press shipments will take longer due to longer lead times, there are first signs of recovery in the sheet fed printing market.,” said CEO Karl Puehringer. “Going forward, we are focused on new uses for our technology".

Management said cash flow from operations during the quarter was slightly less than break even, which was attributable to timing of customer deposits (decreased by $2.5 million). The controllable components of working capital contributed $0.9 million to operating cash flow.

Total debt at March 31, 2010 of $18.7 million is $1.3 million less than at December 31, 2009 and $9.2 million less than at 2009 fiscal year end, resulting primarily from the application of the patent infringement suit settlement proceeds received during the second quarter. Operating expenses for the quarter of $11.0 million were $0.6 million lower than third quarter fiscal 2009 operating expenses of $11.6 million after adjusting for a nonrecurring charge in 2009. Excluding the unfavorable currency effect, operating expenses were $1.2 million or 10% lower than prior year adjusted operating expenses. The current year quarter results reflect the full benefit of restructuring and cost reductions that were started during the second and third quarters of fiscal year 2009.

Management
President and CEO-
Karl S. Puehringer

Vice President, Chief Financial Officer and Treasurer-
John P. Jordan

Chairman-
Gerald A. Nathe

Vice President - Global Operations-
Steffen Weisser

Vice President - Global Sales & Marketing-
Peter Hultberg

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