Product category:
Printing Pre-Press Systems and Materials (Repro, Platemakers, CTP, Workflow, Document Management, Design Software, etc.)
News Release from: EFI
Edited by the Printingtalk Editorial
Team on 24 February 2004
EFI's Sales' and Profits' Big Rise
Electronics For Imaging (EFI) has seen a significant rise in sales for the quarter ended December 31, 2003.
Electronics For Imaging (EFI) has seen a significant rise in sales for the quarter ended December 31, 2003 Revenues were $107.9m as compared to $90.7m for the same quarter in 2002
This article was originally published on Printingtalk on 13 Feb 2004 at 8.00am (UK)
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For the year ended December 31, 2003, revenues were $379.6m as compared to $350.2m for the same period in 2002.
For the 12 months up to the end of 2003, nett profits increased 99% to $43.9m from $22.1m in 2002.
"We are delighted to report our best quarterly pro forma results in over three years, driven by exceptional demand in our server business, especially for our new, high performance S-series Fiery servers", said EFI chief executive officer Guy Gecht.
"We finished 2003 with an encouraging level of business and we've started 2004 with a strong growth outlook," he added.
The results were partly attributed to pro forma net income adjusted by the write-off of in-process research and development and the amortisation of acquisition-related intangibles, as well as charges related to the company's previous minority interest in Printcafe.
There were also gains after expenses, from intellectual property litigation.
As of December 31, 2003, the company's total assets were $1.01 billion, up from $727.1m reported at December 31, 2002.
Total liabilities as at December 31, 2003 were $358.8m, up from $93.0m as of December 31, 2002.
In addition to its core server business, EFI said it saw great opportunities in its newest market for professional printing applications, in which it believes it has a strong portfolio of high value print management and workflow software systems.
The company currently anticipates that results in the first quarter of 2004 will be $102m -$104m.
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