EFI revenue up by 21%, set to clock USD1bn annual turnover
Freemont-based Electronics For Imaging (EFI) has reported strong results with chief executive Guy Gecht stating that the business is on track to achieve its stated target of USD 1 bn in revenues for the year.
29 Jul 2016 | By Rushikesh Aravkar
EFI chief executive Guy Gecht
The numbers speak for themselves. For the quarter ended 30 June 2016, EFI reported record second quarter revenue of USD 245.7 million, up 21% compared to second quarter 2015 revenue of USD 202.7 million.
GAAP net income was USD 5.2 million or USD 0.11 per diluted share, compared to USD 7.7 million or USD 0.16 per diluted share for the same period in 2015.
Non-GAAP net income was USD 26.7 million or USD 0.56 per diluted share, compared to non-GAAP net income of USD 22.9 million or USD 0.48 per diluted share for the same period in 2015.
For the six months ended June 30, 2016, it reported revenue of USD 479.8 million, up 21% year-over-year compared to USD 397.3 million for the same period in 2015. GAAP net income was USD 7.3 million or USD 0.15 per diluted share, compared to USD 13.0 million or USD 0.27 per diluted share for the same period in 2015.
Non-GAAP net income was USD 52.9 million or USD 1.11 per diluted share, compared to non-GAAP net income of USD 44.4 million or USD 0.92 per diluted share for the same period in 2015
EFI chief executive Guy Gecht, said, “EFI’s market position at the Drupa tradeshow validated both our strategy and product roadmap, and we’re particularly encouraged by the exceptional reception to our new Nozomi platform. The Drupa momentum is feeding into the strength we are seeing in the Industrial Inkjet and Productivity Software segments which keep us on track to deliver our stated goal of USD1-billion in revenues for the year.”
The Nozomi C18000 is EFI’s first dedicated single-pass corrugated press. Read more.
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