EFI Posts 10 Percent Q1 Revenue Growth
FREMONT, CA—Electronics For Imaging (EFI), a global provider of customer-focused digital printing technologies, announced its results for the first quarter of 2014.
For the quarter ended March 31, EFI reported record first quarter revenue of $188.7 million, up 10 percent compared to Q1 2013 revenue of $171.4 million. First quarter 2014 non-GAAP net income was $20.4 million or $0.42 per diluted share, up 29 percent and 27 percent, respectively, compared to non-GAAP net income of $15.8 million or $0.33 per diluted share for the same period in 2013. GAAP net income was $10.1 million or $0.21 per diluted share, up 21 percent and 24 percent, respectively, compared to $8.4 million or $0.17 per diluted share for the same period in 2013.
"The EFI team kicked off 2014 with another very strong quarter, delivering revenue and profitability above our expectations," said Guy Gecht, CEO of EFI. "With upcoming product innovations across the portfolio we expect to see solid demand throughout the year as our technology continues to help customers around the world drive growth and productivity in their businesses."