EFI Announces New $30 Million Share Repurchase Program
FOSTER CITY, CA—August 29, 2011—Electronics for Imaging (EFI), a world leader in customer-focused digital printing innovation, announced that its board of directors has authorized a new share repurchase program of up to $30 million, which will be an addition to the recently completed $30 million program authorized in February 2011.
“We believe that repurchasing our stock at current levels is good use of our cash and demonstrates our confidence in the growth opportunities for the company,” said Guy Gecht, CEO of EFI.
The repurchase program will be funded from existing cash on hand and cash generated from operations. No date has been established for the completion of the program.
Repurchases will be made in accordance with applicable securities laws, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The company has no obligation to repurchase shares under the authorization, and the timing, actual number and value of the shares which are repurchased will be at the discretion of management. Depending on market conditions and other factors, these repurchases may be commenced or suspended from time to time without prior notice.
EFI is a world leader in customer-focused digital printing innovation. EFI's award-winning solutions, integrated from creation to print, deliver increased performance, cost savings and productivity. The company's robust product portfolio includes Fiery digital color print servers; VUTEk superwide digital inkjet printers, UV and solvent inks; Rastek UV wide-format inkjet printers; Jetrion industrial inkjet printing systems; print production workflow and business process automation software; and corporate printing solutions.