EFI Reports Record Revenue for Q4 and FY 2014 Despite Negative Impact of Foreign Exchange
FREMONT, CA—January 30, 2015—Electronics For Imaging (EFI) has announced its results for the fourth quarter and full year of 2014.
For the quarter ended Dec. 31, 2014, the Company reported record revenue of $211.1 million, up 7 percent compared to fourth quarter 2013 revenue of $197.2 million. Non-GAAP net income was $25.1 million or $0.52 per diluted share, which included an unfavorable non-operational currency impact of $0.02 per share, compared to non-GAAP net income of $23.8 million or $0.49 per diluted share for the same period in 2013, which included a favorable non-operational currency impact of $0.01 per share. GAAP net income was $11.9 million or $0.25 per diluted share, compared to $75.2 million or $1.54 per diluted share for the same period in 2013.
For the twelve months ended Dec. 31, 2014, the Company reported record revenue of $790.4 million, up 9 percent year-over-year compared to $727.7 million for the same period in 2013. Non-GAAP net income was $87.1 million or $1.80 per diluted share, which included an unfavorable non-operational currency impact of $0.11 per share, compared to non-GAAP net income of $76.6 million or $1.58 per diluted share for the same period in 2013. GAAP net income was $33.7 million or $0.70 per diluted share, compared to $109.1 million or $2.26 per diluted share for the same period in 2013.
"Solid fourth quarter results wrapped-up another terrific year for the EFI team, delivering 9 percent revenue growth and a 14 percent increase in EPS, despite the significant negative impact of foreign exchange in the second half of the year," noted Guy Gecht, CEO of EFI. "Our ongoing focus on innovation across our entire product line-up is helping our customers around the globe win new business and boost profitability. We are getting increasingly confident in delivering on our $1 billion revenue target for 2016 while hitting the higher end of our profitability range."
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.