EFI Reports Record Q4 with 13 Percent Revenue Increase
FREMONT, CA—January 28, 2014—Electronics For Imaging, a world leader in customer-focused digital printing innovation, announced its results for the fourth quarter and full year of 2013.
For the quarter ended December 31, 2013, the company reported record revenue of $197.2 million, up 13 percent compared to fourth quarter 2012 revenue of $174.1 million. Fourth quarter 2013 non-GAAP net income was $23.8 million or $0.49 per diluted share, up 20 percent and 17 percent, respectively, compared to non-GAAP net income of $19.8 million or $0.42 per diluted share for the same period in 2012. GAAP net income was $75.2 million or $1.54 per diluted share, up 33 percent and 29 percent, respectively, compared to $56.6 million or $1.19 per diluted share for the same period in 2012.
For the 12 months ended December 31, 2013, the company reported record revenue of $727.7 million, up 12 percent year-over-year compared to $652.1 million for the same period in 2012. Non-GAAP net income was $76.6 million or $1.58 per diluted share, up 25 percent and 22 percent, respectively, compared to non-GAAP net income of $61.5 million or $1.29 per diluted share for the same period in 2012. GAAP net income was $109.1 million or $2.26 per diluted share, up 31 percent and 30 percent, respectively, compared to GAAP net income of $83.3 million or $1.74 per diluted share for the same period in 2012.
"The EFI team delivered a record fourth quarter with strong execution, driving double-digit growth across all segments and regions and capping a terrific 2013," said Guy Gecht, CEO of EFI. "Looking ahead, we are excited about our opportunities from the ongoing migration of analog to digital printing, and continue to be very focused on helping customers become more productive and competitive."
EFI is a worldwide provider of products, technology, and services leading the transformation of analog to digital imaging. Based in Silicon Valley, CA, 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.