EFI Reports Robust Net Income for First-Quarter 2017
Electronics For Imaging (EFI)) today reported results for its first quarter of 2017, reporting revenue of $228.7 million, down 2 percent compared to first-quarter 2016 revenue of $234.1 million. Net income was $5.5 million, up 160 percent compared to $2.1 million for the same period in 2016, or $0.12 per diluted share, up 200 percent compared to $0.04 per diluted share for the same period in 2016.
Non-GAAP (Generally Accepted Accounting Principles) net income was $25.8 million, down 2 percent compared to non-GAAP net income of $26.3 million for the same period in 2016, or $0.55 per diluted share, which was flat compared to $0.55 per diluted share for the same period in 2016. Cash flow from operating activities was $14.9 million, up 66 percent compared to $9.0 million during the same period in 2016.
“We are pleased that our financial discipline allowed EFI to achieve the midpoint of our non-GAAP EPS outlook despite a slow start to the year,” said Guy Gecht, CEO of EFI. “To address the challenges we faced in Q1 we are taking steps to better execute on our pipeline, while further leveraging the solid growth in the textile printing business, the start of the Nozomi beta rollout, and our new product introductions in the back half of the year.”
- February 2017: Xerox Sells FreeFlow Print Server Business to EFI
- October 2016: EFI Revenue up 7 Percent, Net Income up 76 Percent
- July 2016: EFI Second-Quarter Revenue up 21 Percent to $264 Million, But Net Income Slides
- June 2016: EFI Acquires Optitex in Bid to Extend Marketshare in Textile-Printing Industry
- April 2016: EFI: Record First-Quarter Revenue of $234 Million, up 20 Percent
- January 2016: ‘Record Revevue’ for EFI’s Fourth-Quarter, but Net Income Down
- October 2015: Revenue, Net Income Continue Upward Trend for EFI’s Third Quarter
- July 2015: EFI Makes Two Key Acquisitions; Launches New Fiery Server
- July 2015: EFI Reports Record Revenue of $203 Million, Net-Income Gains
- April 2015: EFI Reports Record First Quarter Revenue of $195 Million
- January 2015: EFI REPORTS RECORD REVENUE FOR FOURTH QUARTER AND FULL-YEAR 2014