Productivity Software, Industrial Inkjet Organic Growth Drive EFI Q3 Sales of $246M
FREMONT, Calif. — October 24, 2016 — Electronics For Imaging (Nasdaq:EFII), a world leader in customer-focused digital printing innovation, has announced its results for the third quarter of 2016.
For the quarter ended Sept. 30, 2016, the Company reported record third quarter revenue of $245.6 million, up 7% compared to third quarter 2015 revenue of $228.7 million. GAAP net income was $17.7 million or $0.37 per diluted share, up 76%, compared to $10.3 million or $0.21 per diluted share for the same period in 2015. Non-GAAP net income was $27.6 million or $0.58 per diluted share, up 16%, compared to non-GAAP net income of $24.1 million or $0.50 per diluted share for the same period in 2015.
For the nine months ended Sept. 30, 2016, the Company reported revenue of $725.4 million, up 16% year-over-year compared to $626.0 million for the same period in 2015. GAAP net income was $25.0 million or $0.52 per diluted share, up 8%, compared to $23.2 million or $0.48 per diluted share for the same period in 2015. Non-GAAP net income was $80.5 million or $1.68 per diluted share, up 18%, compared to non-GAAP net income of $68.5 million or $1.42 per diluted share for the same period in 2015.
“Our balanced business model was again the story in the third quarter. We are delighted with the strong organic growth in our Industrial Inkjet and Productivity Software segments, coupled with a rebound in cash from operations,” comments Guy Gecht, CEO of EFI. “We are entering the home stretch of 2016 with a robust pipeline of opportunities to partner with customers around the world in transforming and growing their businesses.”
EFI is a global technology company, based in Silicon Valley, and is leading the worldwide transformation from analog to digital imaging. We are passionate about fueling customer success with products that increase competitiveness and boost productivity. To do that, we develop 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.