EFI Reports Inkjet, Software Products Drive Revenue Gain
FOSTER CITY, CA—April 19, 2012—Electronics for Imaging (Nasdaq:EFII), a world leader in customer-focused digital printing innovation, announced its results for the first quarter of 2012.
For the quarter ended March 31, 2012, the company reported revenue of $160.1 million, up 14 percent compared to first quarter 2011 revenue of $140.1 million. The revenue increase was fueled by 47 percent growth in industrial inkjet and 45 percent growth in productivity software product segments.
First quarter 2012 non-GAAP net income was $14.2 million, compared to non-GAAP net income of $13.5 million for the same period in 2011. GAAP net income was $6.2 million, compared to $6.2 million for the same period in 2011.
“Our team delivered another great quarter, marking EFI’s ninth consecutive quarter of double-digit revenue growth, along with record inkjet, software, and recurring revenues,” said Guy Gecht, CEO of EFI. “We are very pleased with the solid execution in our seasonally low quarter and ahead of the industry’s largest tradeshow. At drupa, we are set to unveil some amazing new technology that enables our customers to transform their businesses to target the growth areas of print and optimize their operations.”
For the second quarter of 2012, the company is expecting approximately 15 percent year-over-year revenue growth.
EFI is a worldwide provider of products, technology, and services leading the transformation of analog to digital imaging. Based in Silicon Valley with offices around the globe, the company’s powerful integrated 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. These products allow users to produce, communicate and share information in an easy and effective way, and enable businesses to increase their profits, productivity, and efficiency.