EFI Reports Record Q1 Revenue of $234M, Up 20% Compared to Previous Year
FREMONT, Calif. — April 21, 2016 — Electronics For Imaging (Nasdaq:EFII), a world leader in customer-focused digital printing innovation, has announced its results for the first quarter of 2016.
For the quarter ended March 31, 2016, the company reported record first quarter revenue of $234.1 million, up 20% compared to first quarter 2015 revenue of $194.6 million. Non-GAAP operating income was $33.5 million compared to $28.3 million for the same period in 2015. Non-GAAP net income was $26.3 million or $0.55 per diluted share, which includes an unfavorable balance sheet currency translation impact of $0.01 per share, compared to non-GAAP net income of $21.4 million or $0.45 per diluted share for the same period in 2015. GAAP operating income was $6.7 million compared to $11.1 million for the same period in 2015. GAAP net income was $1.9 million or $0.04 per diluted share, compared to $5.2 million or $0.11 per diluted share for the same period in 2015.
"Our team's execution drove another quarter of solid performance across the EFI portfolio, led by good growth in our Industrial Inkjet segment," remarks Guy Gecht, CEO of EFI. "At the upcoming drupa tradeshow we expect to introduce entirely new platforms in every segment of our business, including an expansion into the vast packaging space. We expect products based on these powerful and versatile new platforms to fuel our growth in the coming years."
EFI is a global technology company, based in Silicon Valley, and is leading the worldwide transformation from analog to digital imaging. EFI is passionate about fueling customer success with products that increase competitiveness and boost productivity. To do that, it develops breakthrough technologies for the manufacturing of signage, packaging, textiles, ceramic tiles and personalized documents, with a wide range of printers, inks, digital front ends, and a comprehensive business and production workflow suite that transforms and streamlines the entire production process.