EFI Reports Record Q2 Revenue of $193M, Up 7 Percent Compared to 2013
FREMONT, CA—July 18, 2014—Electronics For Imaging, a world leader in customer-focused digital printing innovation, has announced its results for the second quarter of 2014.
For the quarter ended June 30, 2014, the company reported record second quarter revenue of $193.0 million, up 7 percent compared to second quarter 2013 revenue of $180.3 million. Second quarter 2014 non-GAAP net income was $21.0 million or $0.44 per diluted share, up 15 percent and 16 percent, respectively, compared to non-GAAP net income of $18.3 million or $0.38 per diluted share for the same period in 2013. GAAP net income was $6.9 million or $0.14 per diluted share, down 27 percent and 30 percent, respectively, compared to $9.4 million or $0.20 per diluted share for the same period in 2013.
For the six months ended June 30, 2014, the Company reported revenue of $381.7 million, up 9 percent year-over-year compared to $351.7 million for the same period in 2013. Non-GAAP net income was $41.3 million or $0.86 per diluted share, compared to non-GAAP net income of $34.0 million or $0.71 per diluted share for the same period in 2013. GAAP net income was $17.0 million or $0.35 per diluted share, compared to $17.8 million or $0.37 per diluted share for the same period in 2013.
"The EFI team delivered yet another solid quarter, showcasing our balanced portfolio and the benefit of the EFI ecosystem," said Guy Gecht, CEO of EFI. "Our innovation leadership was the driving factor, with new products launched across our Industrial Inkjet and Fiery portfolios. We look for new innovations to fuel our results for the second half of the year as we help our global customer base achieve their own growth objectives."
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.