EFI Revenue up 7 Percent, Net Income up 76 Percent

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On October 24th, Electronics for Imaging (EFI) reported “record” third-quarter revenue of $246 million, up 7 percent compared to third-quarter 2015’s revenue of $228.7 million. Net income was $17.7 million, or $0.37 per diluted share, up 76 percent, compared to $10.3 million, or $0.21 per diluted share, for third-quarter 2015.

Non-GAAP (Generally Accepted Accounting Principles) net income was $27.6 million, or $0.58 per diluted share, up 16 percent, compared to non-GAAP net income of $24.1 million, or $0.50 per diluted share, for third-quarter 2015.

For the nine months that ended on September 30, 2016, EFI reported revenue of $725.4 million, up 16 percent year-over-year compared to $626.0 million for the same period in 2015. Net income was $25.0 million, or $0.52 per diluted share, up 8 percent, compared to $23.2 million, or $0.48 per diluted share, for the same period in 2015. Non-GAAP net income was $80.5 million, or $1.68 per diluted share, up 18 percent, compared to non-GAAP net income of $68.5 million, or $1.42 per diluted share, for the same period in 2015.

Guy Gecht, CEO of EFI, commented: “Our balanced business model was again the story in the third quarter. We are delighted with the strong organic growth in our Industrial Inkjet and Productivity Software segments, coupled with a rebound in cash from operations. We are entering the home stretch of 2016 with a robust pipeline of opportunities to partner with customers around the world in transforming and growing their businesses.”

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