EFI Reports Double-Digit Gains for Quarter, Fiscal Year
FOSTER CITY, CA—Jan. 24, 2012—Electronics For Imaging, a world leader in customer-focused digital printing innovation, announced its results for the fourth quarter of 2011.
For the quarter ended Dec. 31, 2011, EFI reported record revenue of $163.1 million, up 12 percent year over year compared to fourth quarter 2010 revenue of $145.0 million. Fourth quarter 2011 non-GAAP net income was $16.6 million, compared to non-GAAP net income of $13.3 million for the same period in 2010. GAAP net income was $11.5 million, compared to $8.1 million for the same period in 2010.
For the 12 months ended Dec. 31, 2011, the company reported revenue of $591.6 million, up 17 percent year over year compared to 2010 revenue of $504.0 million. Non-GAAP net income for the year was $53.1 million, compared to non-GAAP net income of $27.8 million for the same period in 2010. GAAP net income for the year was $27.5 million, compared to GAAP net income of $7.5 million for the same period in 2010.
“Our eighth consecutive quarter of double-digit revenue growth, which reflects records for both our Inkjet and APPS segments, completes a very successful year for EFI on many levels,” said Guy Gecht, CEO of EFI. “Our team delivered 17 percent revenue growth in 2011, an approximate 90 percent increase in non-GAAP net income growth, strong cash flow from operations, and a record level of recurring revenue.
“We are excited about the opportunities ahead and plan to accelerate our innovation while continuing to execute on our strategy enabling customers to profit from the transition of analog print to digital technology while driving efficiencies in their businesses.”
For the first quarter of 2012, the company is expecting approximately 10 percent year-over-year revenue growth.
EFI is a world leader in customer-focused digital printing innovation. EFI’s award-winning solutions, integrated from creation to print, deliver increased performance, cost savings and productivity. The company’s product portfolio includes Fiery digital color print servers; VUTEk super-wide digital inkjet printers, UV and solvent inks; Rastek UV wide-format inkjet printers; Jetrion industrial inkjet printing systems; print production workflow and business process automation software; and corporate printing solutions.