PNG, a lossless image format, works well for text and graphics, like screenshots. The one drawback to PNG is that the resulting file size can be larger than JPEG files. PNGGauntlet, a free Windows program, can help reduce the size of PNG files and since PNG is lossless, compressing it will have no impact on its quality.
To use PNGGauntlet, first make sure you have Microsoft .NET framework 4.0 installed. When you're ready to start, add the PNG files you want to compress by dragging them over to the screen or clicking on the Add Images button. Next, select the Output Directory, then click the Optimize! button.
The screenshot above (click to enlarge) was shrunk down to 88 percent of its original size and no quality was lost. Do you have a different method for compressing PNG files? Let us know in the comments below.