Net Income Soars for Electronics for Imaging in Fourth Quarter, ‘Record Revenue’

Electronics For Imaging (EFI) today reported financial results for its fourth quarter of 2016, as well as for full-year 2016. For the quarter that ended on December 31, 2016, EFI reported “record revenue” of $266.7 million, up 4 percent compared to fourth-quarter 2015 revenue of $256.5 million.

GAAP (Generally Accepted Accounting Principles) net income for the fourth quarter was $20.5 million, up 99 percent compared to $10.3 million for fourth-quarter 2015, or $0.43 per share, up 105 percent compared to $0.21 per diluted share for the same period in 2015. Non-GAAP net income for the fourth quarter was $36.3 million, up 23 percent compared to non-GAAP net income of $29.4 million for fourth-quarter 2015, or $ 0.77 per share, up 26 percent compared to $0.61 per diluted share for the same period in 2015. Cash flow from operating activities was $65.2 million, up 141 percent compared to $27.1 million during the same period in 2015.

Full-Year 2016 Results

For full-year 2016, EFI reported revenue of $992.1 million, up 12 percent year-over-year compared to $882.5 million for full-year 2015. GAAP net income was $45.5 million, up 36 percent compared to $33.5 million for full-year 2015, or $0.95 per diluted share, up 36 percent compared to $0.70 per diluted share for  full-year 2015. Non-GAAP net income was $116.8 million, up 19 percent compared to non-GAAP net income of $97.9 million for full-year 2015 or $2.44 per diluted share, up 20 percent compared to $2.03 per diluted share for full-year 2015. Cash flow from operating activities was $121.1 million, up 77 percent compared to $68.3 million during the same period in 2015.

“EFI delivered another record revenue quarter and our team’s execution drove significant improvements in margins, cash flow, and earnings per share, despite the negative impact of foreign currency,” commented EFI CEO Guy Gecht. “As we start the New Year we are even more excited about the road ahead, especially with our upcoming introduction of the Nozomi platform targeted at digital printing for packaging.”

More Resources

Advertisements
%d bloggers like this: