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12th September 2017, Fremont, CA

EFI reports net income decline

EFI is a technology company, based in Silicon Valley. Electronics For Imaging (EFI), a leader in customer-focused digital printing innovation, has reported GAAP net income of US$ 2.8 million, down by 47% compared to US$ 5.2 million for the same period in 2016. For the quarter ended 30 June 2017, the company reached a record second quarter revenue of US$ 247.0 million, up 1% compared to second quarter 2016 revenue of US$ 245.7 million. 

Non-GAAP net income was US$ 25.5 million, down by 4% compared to non-GAAP net income of US$ 26.7 million for the same period in 2016. Cash flow from operating activities was US$ 24.1 million, up by 5% compared to US$ 22.9 million during the same period in 2016.

“While we sincerely regret the delay in announcing our second quarter results and the impact on our shareholders, we are pleased to report that the EFI team delivered record second quarter revenue with solid cash generation,” said Guy Gecht, CEO of EFI.

“We expect this momentum to continue into the second half of the year, with anticipated record Q3 revenue, while making additional progress on our pipeline of new industry leading products, including the planned commercialization of the Nozomi.”

For the six months that ended on 30 June, the company reported revenue of US$ 475.7 million, down by 1% year-over-year compared to US$ 479.8 million for the same period in 2016. GAAP net income was US$ 7.5 million, compared to US$ 7.3 million for the same period in 2016.

Non-GAAP net income was US$ 51.3 million, compared to non-GAAP net income of US$ 52.9 million for the same period in 2016. Cash flow from operating activities for the six months ended on 30 June, was US$ 39.0 million, up by 22% compared to US$ 31.9 million during the same period in 2016.

EFI is a technology company, based in Silicon Valley, specialising in analogue and digital imaging. “We are passionate about fuelling customer success with products that increase competitiveness and boost productivity. To do that, we develop breakthrough technologies for the manufacturing of signage, packaging, textiles, ceramic tiles, and personalized documents, with a wide range of printers, inks, digital front ends, and a comprehensive business and production workflow suite that transforms and streamlines the entire production process,” the company reports.

www.efi.com

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