EFI Reports Robust Net Income for First-Quarter 2017

EFI Vutek 5330

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.”

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