EFI: Record First-Quarter Revenue of $234 Million, up 20 Percent

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This week, Electronics For Imaging (EFI) reported results for the first quarter of 2016, reporting record first-quarter revenue of $234.1 million, up 20 percent compared to first-quarter 2015 revenue of $194.6 million.

Non-GAAP (Generally Accepted Accounting Principles) operating income was $33.5 million, compared to $28.3 million for first-quarter 2015. Non-GAAP net income was $26.3 million or $0.55 per diluted share, which includes an “unfavorable balance-sheet currency translation” impact of $0.01 per share, compared to non-GAAP net income of $21.4 million, or $0.45 per diluted share for the same period in 2015.

GAAP operating income was $6.7 million compared to $11.1 million for the same period in 2015. GAAP net income was $1.9 million, or $0.04 per diluted share, compared to $5.2 million or $0.11 per diluted share for the same period in 2015.

“Our team’s execution drove another quarter of solid performance across the EFI portfolio, led by good growth in our Industrial Inkjet segment,” commented EFI CEO Guy Gecht, “At the upcoming drupa tradeshow we expect to introduce entirely new platforms in every segment of our business, including an expansion into the vast packaging space. We expect products based on these powerful and versatile new platforms to fuel our growth in the coming years.”

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