EFI Reports Record Q3 with Revenue of $179M, Up 16 Percent; Relocates to New HeadquartersOctober 17, 2013
For the quarter ended September 30, 2013, the company reported record third quarter revenue of $178.8 million, up 16 percent compared to third quarter 2012 revenue of $154.1 million. Third quarter 2013 non-GAAP net income was $18.7 million or $0.39 per diluted share, up 41 percent and 39 percent, respectively, compared to non-GAAP net income of $13.3 million or $0.28 per diluted share for the same period in 2012. GAAP net income was $16.1 million or $0.33 per diluted share, up 20 percent and 18 percent, respectively, compared to $13.4 million or $0.28 per diluted share for the same period in 2012.
For the nine months ended September 30, 2013, the company reported revenue of $530.5 million, up 11 percent year-over-year compared to $478.0 million for the same period in 2012. Non-GAAP net income was $52.8 million or $1.09 per diluted share, up 27 percent and 25 percent, respectively, compared to non-GAAP net income of $41.7 million or $0.87 per diluted share for the same period in 2012. GAAP net income was $33.9 million or $0.70 per diluted share, also up 27 percent and 25 percent, respectively, compared to GAAP net income of $26.7 million or $0.56 per diluted share for the same period in 2012.
"The EFI team delivered a very strong third quarter with record revenue and a terrific increase in profitability," said Guy Gecht, CEO of EFI. "With new breakthrough products across our portfolio, we expect the demand to continue as EFI's innovation helps customers around the globe win new business and boost productivity."
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.