EFI eyes USD1bn sales target after strong Q2

Freemont-based Electronics For Imaging (EFI) has posted strong results with chief executive Guy Gecht stating that the business is on track to achieve to its USD1bn (£640m) sales target by 2016 following the acquisitions of Reggiani Macchine and Matan earlier this month.

24 Jul 2015 | By Samir Lukka

"Solid execution by our team led to a record June quarter for EFI, driven by strength across all of our business segments," said Guy Gecht, chief executive officer of EFI.

The numbers speak for themselves. EFI's results for the second quarter of 2015 has a revenue of USD 202.7 million, up 5% compared to second quarter 2014 revenue of $193.0 million for the quarter ending June 30 2015.

"We couldn't ask for a better setup as we begin integrating Reggiani and Matan, which we acquired early in the third quarter. These two acquisitions strengthen EFI's product offerings and capabilities, and most importantly, strategically expand our TAM as we enter the vast digital textile market,” he added.

Gecht highlighted that the roll-to-roll textile market is still in the very early stages of its analogue to digital conversion, with only 4% so far printed digitally – which he said represented a significant opportunity in a market expected to be worth $1.5bn.

The company is optimistic of achieving their one billion dollar target for 2016 with this quarter’s strong showing added with the aggressive investment in Reggiani and Matan.

EFI recently won the ‘Graphitec Innovation Award for Software Solutions’ at Graphitec expo in Paris. Graphitec is the largest print show in France and this year's event focused on new technology and workflow optimisation.