EFI Reports Record First-Quarter Revenue For First-Quarter 2018

Electronics For Imaging (EFI) today reported results for first-quarter 2018, reporting “record” first-quarter revenue of $239.9 million, up 5 percent compared to first-quarter 2017 revenue. However, the firm reported a net loss of $3.6 million for the quarter, compared to net income of $4.8 million for first-quarter 2017, or a loss of $0.08 per share. compared to $0.10 per share for first-quarter 2017.

Non-GAAP (Generally Accepted Accounting Principles) net income was $17.2 million, down 33 percent compared to non-GAAP net income of $25.8 million for the same period in 2017, or $0.38 per share, down 31 percent compared to $0.55 per share for first-quarter 2017. Cash flow from operating activities was $6.3 million compared to $14.9 million for first-quarter 2017.

EFI also noted that industrial inkjet-printer revenue increased by 15 percent, while productivity-software revenue grew by 25 percent

Guy Gecht, CEO of EFI commented: “We began 2018 with a very strong first quarter, as our direct business, which grew 17 percent and now comprises 77  percent of our sales, drove revenues above expectations. We also met our goals for Nozomi in first-quarter, and with increasing traction in the packaging market, look for sequential growth in unit shipments through the year. With Nozomi and the solid lineup of new products planned for the second half of the year, the entire EFI team is excited and energized about the significant opportunities in 2018 and beyond.”

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