EFI Second-Quarter Revenue up 21 Percent to $264 Million, But Net Income Slides

EFI Reggiani at ITMA 2015 in Milan

Electronics For Imaging (EFI)) reported financial results for its second quarter that ended on June 30th, with “record” second-quarter revenue of $245.7 million, up 21 percent compared to second-quarter 2015 revenue of $202.7 million. Net income was $5.2 million, or $0.11 per diluted share, compared to $7.7 million, or $0.16 per diluted share for the same period in 2015. Non-GAAP (Generally Accepted Accounting Principles) net income was $26.7 million, or $0.56 per diluted share, compared to non-GAAP net income of $22.9 million, or $0.48 per share for the same period in 2015.

For the six months that ended on June 30, 2016, EFI reported revenue of $479.8 million, up 21 percent year-over-year compared to $397.3 million for second-quarter 2015. Net income was $7.3 million, or $0.15 per share, compared to $13.0 million or $0.27 per share for the same period in 2015. Non-GAAP net income was $52.9 million, or $1.11 per share, compared to non-GAAP net income of $44.4 million, or $0.92 per share, for the same period in 2015.

“The EFI team delivered a solid quarter despite the disruption caused by global events during the last week of the quarter,” commented Guy Gecht, CEO of EFI. “At the same time, EFI’s market position at the drupa trade show validated both our strategy and product roadmap, and we’re particularly encouraged by the exceptional reception to our new Nozomi platform. The drupa momentum is feeding into the strength we are seeing in the Industrial Inkjet and Productivity Software segments which keep us on track to deliver our stated goal of $1 billion in revenues for the year.”

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