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 01 November 2004
EFI's Revenues Grow But Flat 4th Quarter
Expected
EFI has announced a slight increase in its trading performance for the quarter ended September 30, 2004.
EFI has announced a slight increase in its trading performance for the quarter ended September 30, 2004 Its revenues were $97.6 million compared to $97.3 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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For the nine months ended September 30, 2004, revenue grew 15 per cent to $313.4 million from the $271.7 million achieved in the first nine months of 2003.
Pro forma net income was $8.9 million or $0.16 per diluted share in the third quarter of 2004, compared to $12.8 million or $0.24 per diluted share for the same period in 2003.
Pro forma net income for the nine months ended September 30, 2004 was $33.8 million or $0.61 per diluted share, an increase of 17 per cent from the $29.0 million or $0.53 per diluted share achieved during the same period in 2003.
As of September 30, 2004, the Company's total assets were $1.02 billion, up from the $1.01 billion reported at December 31, 2003.
Total liabilities as of September 30, 2004 were $358.8 million, even with $358.8 million as of December 31, 2003.
"Despite the difficult business environment, we were able to achieve our 15th consecutive quarter of gross margin expansion, strong cash flow from operations and earnings per share (EPS) above our revised expectations," said Guy Gecht, EFI's chief executive officer.
"While we are still seeing softness in our embedded business, we remain committed to maintaining solid profitability and investing in key growth areas, particularly in software, where we continue to see strong market opportunities," he added.
He went on to say the company anticipated that the fourth quarter revenues would be roughly level with the third quarter levels.
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