EFI reports growth of 16% in its third quarter report

The third quarter 2013 non-GAAP net income was $18.7 million or $0.39 per diluted share, up 41% and 39%, respectively, compared to non-GAAP net income of $13.3 million or $0.28 per diluted share for the same period in 2012.

GAAP net income was $16.1 million or $0.33 per diluted share, up 20% and 18%, respectively, compared to $13.4 million or $0.28 per diluted share for the same period in 2012.

For the nine months ended September 30, 2013, the Company reported revenue of $530.5 million, up 11% year-over-year compared to $478.0 million for the same period in 2012.

Non-GAAP net income was $52.8 million or $1.09 per diluted share, up 27% and 25%, respectively, compared to non-GAAP net income of $41.7 million or $0.87 per diluted share for the same period in 2012.

GAAP net income was $33.9 million or $0.70 per diluted share, also up 27% and 25%, respectively, compared to GAAP net income of $26.7 million or $0.56 per diluted share for the same period in 2012.
 
Guy Gecht, chief executive officer of EFI, said, "The EFI team delivered a very strong third quarter with record revenue and a terrific increase in profitability. With new breakthrough products across our portfolio, we expect the demand to continue as EFI's innovation helps customers around the globe win new business and boost productivity."

EFI is a worldwide provider of products, technology, and services with offices around the globe. The company's product portfolio includes digital front-end servers; superwide, wide-format, label, and ceramic inkjet presses and inks; production workflow, web-to-print, and business automation software; and office, enterprise, and mobile cloud solutions.