EFI Reports Record Revenue for Fourth Quarter and Full-Year 2014

efi Essential LogoJanuary 29, 2015 – Electronics For Imaging (EFI) today reported results for fourth-quarter 2014 and full-year of 2014. For the fourth quarter, EFI reported revenue of $211.1 million, up 7 percent compared to fourth-quarter 2013 revenue of $197.2 million. Net income was $11.9 million, or $0.25 per diluted share, compared to $75.2 million, or $1.54 per diluted share for the same period in 2013. However, EFI says that adjusted (non-Generally Accepted Accounting Principles [GAAP[]) net income was $25.1 million, or $0.52 per diluted share, which included an unfavorable non-operational currency impact of $0.02 per share, compared to non-GAAP net income of $23.8 million or $0.49 per diluted share for the same period in 2013.

For its full 2014 fiscal year ending December 31, 2014, EFI reported record revenue of $790.4 million, up 9 percent year-over-year, compared to $727.7 million for 2013. Non-GAAP net income was $87.1 million or $1.80 per diluted share, which included an unfavorable non-operational currency impact of $0.11 per share, compared to non-GAAP net income of $76.6 million, or $1.58 per diluted share for the same period in 2013. GAAP net income was $33.7 million, or $0.70 per diluted share, compared to $109.1 million or $2.26 per diluted share for the same period in 2013.

“Solid fourth-quarter results wrapped-up another terrific year for the EFI team, delivering 9 percent revenue growth and a 14 percent increase in EPS, despite the significant negative impact of foreign exchange in the second half of the year,” commented EFI CEO Guy Gecht. “Our ongoing focus on innovation across our entire product line-up is helping our customers around the globe win new business and boost profitability. We are getting increasingly confident in delivering on our $1 billion revenue target for 2016 while hitting the higher end of our profitability range.”

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