EFI Bags Metrix Software, Reports Record Q3 Revenue
FOSTER CITY, CA—EFI announced that it has acquired the Edmonds, WA-based automated print planning and imposition technology company operating as Metrix Software.
While financial terms of the acquisition were not disclosed, the acquisition is not expected to be material to EFI’s Q4 or full-year 2013 results. The Metrix team has joined EFI, including Metrix CEO and founder Rohan Holt, who is now director of EFI Metrix products.
“EFI and Metrix have had a positive working relationship for several years,” said Marc Olin, EFI’s interim CFO and senior vice president and general manager of the company’s Productivity Software business. “Adding the Metrix team’s exceptional talent and technical know-how helps us drive innovation even further, ensuring that EFI customers can continue to reduce the cost and improve the profitability of their printing operations.”
EFI will be continuing development and customer support activities for all of Metrix’s software products. Metrix’s technology offering will also expand to serve as an integrated impositioning module for EFI’s Pace MIS product. Over time, Metrix’s technology will also become integrated with EFI’s other MIS and ERP workflow offerings. EFI plans on continuing Metrix’s existing reseller and channel arrangements.
EFI also released its third quarter financial results. For the quarter ended Sept. 30, the company reported record Q3 revenue of $178.8 million, up 16 percent compared to Q3 2012 revenue of $154.1 million. Third quarter 2013 non-GAAP net income was $18.7 million or $0.39 per diluted share, up 41 percent and 39 percent, respectively, compared to non-GAAP net income of $13.3 million or $0.28 per diluted share for the same period in 2012. GAAP net income was $16.1 million or $0.33 per diluted share, up 20 percent and 18 percent, respectively, compared to $13.4 million or $0.28 per diluted share for the same period in 2012.
For the nine months ended Sept. 30, EFI reported revenue of $530.5 million, up 11 percent year-over-year compared to $478.0 million for the same period in 2012.