<PAGE>
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No. )
Filed by the Registrant /X/
Filed by a Party other than the Registrant / /
Check the appropriate box:
/ / Preliminary Proxy Statement
/ / Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
/ / Definitive Proxy Statement
/X/ Definitive Additional Materials
/ / Soliciting Material Pursuant to Section 240.14a-11(c) or Section
240.14a-12
PRINTWARE, INC.
- ------------------------------------------------------------------------------
(Name of Registrant as Specified In Its Charter)
- ------------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
/X/ No fee required
/ / Fee computed on table below per Exchange Act Rules 14a-6(i)(4)
and 0-11.
1) Title of each class of securities to which transaction applies:
----------------------------------------------------------------------
2) Aggregate number of securities to which transaction applies:
----------------------------------------------------------------------
3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the
filing fee is calculated and state how it was determined):
----------------------------------------------------------------------
4) Proposed maximum aggregate value of transaction:
----------------------------------------------------------------------
5) Total fee paid:
----------------------------------------------------------------------
/ / Fee paid previously with preliminary materials.
/ / Check box if any part of the fee is offset as provided by Exchange Act
Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement
number,
or the Form or Schedule and the date of its filing.
1) Amount Previously Paid:
----------------------------------------------------------------------
2) Form, Schedule or Registration Statement No.:
----------------------------------------------------------------------
3) Filing Party:
----------------------------------------------------------------------
4) Date Filed:
----------------------------------------------------------------------
<PAGE>
NEWS RELEASE
For immediate release
Printware, Inc.
1270 Eagan Industrial Rd.
St. Paul, MN 55121
http://PrintwareInc.com
CONTACT--Thomas W. Petschauer, Executive Vice President & CFO--(651) 456-1403
Printware Reports First Quarter Results
Revenues up 37% from prior year
ST. PAUL, MINN., April 18, 2000--Printware, Inc. (Nasdaq-NNM: PRTW) reported
revenues of $1,264,000 for the first quarter of 2000, an increase of 37
percent from revenues of $920,000 for the first quarter of 1999. The company
reported net income of $92,000 or 3 cents per share for the first quarter of
2000, compared to a net loss of $97,000 or 2 cents per share in the same
period of the prior year. Income before income taxes was $141,000 or 4 cents
per share for the first quarter of 2000.
The average number of common shares outstanding decreased to 3.3 million in
the first quarter of 2000 from 4.8 million in the 1999 period as a result of
the repurchase in 1999 of 1,587,690 shares of Printware's common stock from
Deluxe Corporation (NYSE: DLX).
The company attributed the revenue gain to a sharp increase in platesetter
equipment sales and the start-up of a supplies business for its current
generation of platesetters. "This resurgence is clear evidence that our new
strategy, focusing on Internet printing and on supplies, is working,"
commented Daniel A. Baker, Ph.D., Printware's president and chief executive
officer. "With our new silver-halide supplies now becoming available, some of
first-quarter equipment sales included supplies contracts. We expect the
majority of future equipment sales to include supplies contracts, which can
be worth more than each equipment sale over the long term. As further
evidence that our strategic initiatives are proving successful, one of the
systems installed in the first quarter was for a large Internet printer.
Internet printing is key to our future."
"Our backlog had grown considerably and we are well-positioned for the second
quarter," continued Baker. For example, first quarter results do not include
the sale of a watershed Web-to-Press Internet printing announced March 21,
2000, as installation is expected to take place in the second quarter of this
year.
The improvement in profitability was attributed to the increased revenue and
to reduced expenses. "This was our first quarterly operating profit since
1998, which we achieved despite continued investment spending in sales and
marketing and Internet printing software development," noted Baker.
Printware, Inc. designs, builds, and markets "computer-to-plate" systems,
which are used by the printing industry to create printing plates directly
from computers or the Internet. Computer-to-plate systems replace the
traditional platemaking process of typesetting, proofing, paste-up, camera
work, and processing film.
[more]
<PAGE>
Statements made in this release concerning the Company's or management's
intentions, expectations, or predictions about future results or events are
"forward-looking statements" within the meaning of the Private Securities
Reform Act of 1995. Such statements are necessarily subject to risks and
uncertainties that could cause actual results to vary from stated
expectations, and such variations could be material and adverse. Additional
information concerning the factors that could cause actual results to differ
materially from the Company's current expectations is contained in the
Company's SEC filings.
THE OFFICERS AND DIRECTORS OF PRINTWARE ARE PARTICIPANTS IN A SOLICITATION,
AS DEFINED IN THE RULES PROMULGATED UNDER SECTION 14A OF THE SECURITIES AND
EXCHANGE ACT OF 1934, IN CONNECTION WITH THE ANNUAL MEETING OF PRINTWARE TO
BE CONVENED APRIL 13, 2000, ADJOURNED TO APRIL 20, AND RECONVENED AT A LATER
DATE. INFORMATION CONCERNING THE PARTICIPANTS, INCLUDING THEIR DIRECT AND
INDIRECT SECURITY HOLDINGS, CAN BE FOUND IN PRINTWARE'S PRELIMINARY PROXY
STATEMENT INCLUDING ITS ANNEX A, FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION ON APRIL 10, 2000.
INVESTORS AND SHAREHOLDERS SHOULD READ PRINTWARE'S PRELIMINARY PROXY
STATEMENT WITH RESPECT TO ITS SOLICITATION OF PROXIES, FILED WITH THE
SECURITIES AND EXCHANGE COMMISSION, AND ITS DEFINITIVE PROXY STATEMENT TO BE
FILED WITH THE COMMISSION, BECAUSE THESE DOCUMENTS CONTAIN IMPORTANT
INFORMATION. INVESTORS AND SHAREHOLDERS MAY OBTAIN A FREE COPY OF THE
PRELIMINARY AND THE DEFINITIVE PROXY STATEMENTS (WHEN AVAILABLE) AND OTHER
DOCUMENTS FILED BY PRINTWARE WITH THE COMMISSION AT THE COMMISSION'S INTERNET
ADDRESS AT WWW.SEC.GOV. THE PRELIMINARY AND DEFINITIVE PROXY STATEMENTS (WHEN
AVAILABLE) AND OTHER DOCUMENTS MAY ALSO BE OBTAINED FREE FROM PRINTWARE BY
DIRECTING A REQUEST TO PRINTWARE'S PROXY SOLICITOR, D.F. KING & CO., INC. AT
(800) 290-6426.
###
<PAGE>
<TABLE>
<CAPTION>
PRINTWARE, INC.
CONDENSED STATEMENTS OF OPERATIONS
FOR THE QUARTER ENDED APRIL 1, 2000 AND APRIL 3, 1999
(IN THOUSANDS EXCEPT PER SHARE)
(UNAUDITED)
Quarter ended April 1, 2000 April 3, 1999
<S> <C> <C>
Revenues $ 1,264 $ 920
Cost of Revenues 737 584
------- -------
Gross Profit 527 336
Operating Expenses 510 627
------- -------
Operating Income (Loss) 17 (291)
Non-Operating Income 124 194
Income Before Income Taxes 141 (97)
Income Tax 49 -
------- -------
Net Income $ 92 $ (97)
======= =======
Basic Earnings Per Share $ 0.03 $ (0.02)
Weighted Avg. Basic Shares 3,276 4,835
Diluted Earnings Per Share $ 0.03 $ (0.02)
Weighted Avg. Diluted Shares 3,323 4,838
</TABLE>
