EFI Reports Revenue Gain Led by Industrial Inkjet Segment Growth
FOSTER CITY, CA—Oct. 18, 2012—Electronics For Imaging (Nasdaq:EFII), a world leader in customer-focused digital printing innovation, announced its results for the third quarter of 2012. For the quarter ended Sept. 30, 2012, the company reported revenue of $154.1 million, up 5 percent compared to third quarter 2011 revenue of $147.3 million. Third quarter 2012 non-GAAP net income was $13.3 million, compared to non-GAAP net income of $11.6 million for the same period in 2011. GAAP net income was $13.4 million, compared to $6.1 million for the same period in 2011.
For the nine months ended Sept. 30, 2012, EFI reported revenue of $478.0 million, up 12 percent year-over-year compared to $428.5 million for the same period in 2011. Non-GAAP net income was $41.7 million, compared to non-GAAP net income of $36.4 million for the same period in 2011. GAAP net income was $26.7 million, compared to GAAP net income of $16.0 million for the same period in 2011.
“Another very strong quarter by our Industrial Inkjet business coupled with continued double-digit growth in our productivity software business led to solid results for Q3 despite the softness in Europe,” said Guy Gecht, Chief Executive Officer of EFI. “For the first time, Industrial Inkjet represented over 50 percent of total EFI revenues, while at the same time the continued high growth of ink volume shows that our customers are also enjoying a similar business expansion. As we begin a major new product cycle across our entire product portfolio, EFI’s innovation continues to help customers drive growth and efficiency in their business, which is crucial to our industry, especially in today’s environment.”
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.