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.”
- January 2018: EFI Showcases New Age of Digital Print, New Products, at 19th Annual EFI Connect Conference
- October 2017: EFI to Spin-Off Jetrion Label-Printer Line
- October 2017: EFI Acquires Escada Systems in Bid to Expand Offerings for Package-Printing Market
- September 2017: After Delay, EFI Reports ‘Record’ Second-Quarter Revenue
- August 2017: Shareholder Class-Action Lawsuit Filed Against EFI
- May 2017: EFI Acquires Provider of Business-Management Systems CRC Information Systems
- May 2017: EFI Enters Wood-Printing Market with New Cubik for Inkjet Printing on Wood
- April 2017: EFI Reports Robust Net Income for First-Quarter 2017