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 29 April 2004
EFI Grows Revenues By 25% - More Than
Expected
Electronics For Imaging (EFI) the provider of digital imaging and print management systems has announced that revenues grew 25% to $106.7 million when compared to $85.7 million for 2003.
Electronics For Imaging (EFI) the provider of digital imaging and print management systems has announced that revenues grew 25% to $106.7 million when compared to $85.7 million for the same period in 2003 The results for the quarter ended March 31, 2004 showed pro forma net income was $12.3 million in the first quarter of 2004, an increase of 76% when compared to $7.0 million for the same period in 2003
This article was originally published on Printingtalk on 13 Feb 2004 at 8.00am (UK)
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The Company also stated it currently anticipates its business momentum will mean its second quarter results should be in-line with current revenue estimates of $109 million.
As of March 31, 2004, the company's total assets were $1.0 billion, unchanged from the $1.0 billion reported as of December 31, 2003.
Total liabilities as of March 31, 2004 were $351.8 million, down slightly from $358.8 million as of December 31, 2003.
"We continue to advance our leadership role in supplying professional and enterprise printing customers with the highest quality solutions for improving their efficiency, profitability and customer collaboration," said EFI chief executive officer Guy Gecht.
"We are very encouraged by the market response to our latest offerings in applications as well as the strength in our traditional server and embedded businesses," he added.
EFI has also announced that it is adding the responsibilities of chief operating officer to Joseph Cutts, EFI's chief financial officer.
Gecht commented, "We see a great deal of opportunity ahead for growing our business.
Joe has done an outstanding job as CFO and he is ready to take on additional responsibilities to help execute our strategy." The change will free more time for president, Fred Rosenzweig and Gecht to focus on further developing EFI's product offerings and on exploring and closing more business opportunities, said the chief executive.
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