EFI Reports Record Revenue of $198 Million for Third-Quarter 2014
Electronics For Imaging (EFI) today reported results for its third-quarter 2014. The company reported record revenue of $197.7 million, up 11 percent compared to third-quarter 2013 revenue of $178.8 million. Operating income was $12.9 million compared to $13.9 million for the same period in 2013. Net income was $4.8 million, or $0.10 per diluted share, compared to $16.1 million, or $0.33 per diluted share, for the same period in 2013.
For the nine months ended September 30, 2014, EFI reported revenue of $579.3 million, up 9 percent year-over-year compared to $530.5 million for the same period in 2013. Operating income was $36.2 million compared to $35.2 million for the same period in 2013. Net income was $21.8 million, or $0.45 per diluted share, compared to $33.9 million, or $0.70 per diluted share for the same period in 2013.
“In the third quarter the EFI team raised the bar on execution with revenues growing 11 percent to all-time record levels, increasing our confidence in achieving $1 billion in revenue by the end of 2016,” commented EFI CEO Guy Gecht, CEO of EFI. “We remain sharply focused on that goal as we are helping more and more customers around the world become increasingly competitive and productive.”
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