EFI's 10% Revenue Growth Drives Inkjet Investment

Edited by the Printingtalk editorial team May 3, 2007

EFI increased its revenue by 10 per cent for its last quarter - US$47 million up on the US$134.3 million during same quarter last year.

Non-GAAP net income was US$18.8 million or SU$0.29 per diluted share in the first quarter of 2007, compared to US$18.0 million, or US$0.28 per diluted share for the same period in 2006.

Guy Gecht, chief executive officer of EFI, commented: "We are pleased that we exceeded our first quarter revenue and earnings expectations, due largely to the benefits of our diversified product portfolio.

The strong demand for our Fiery products drove our results this quarter." He added: "That allowed us to accelerate investments in our growing inkjet business, whilst still reporting increased profitability.

We look for this trend to continue for the balance of the year, allowing us to increase our full year outlook." GAAP net income was US$3.7 million (US$0.06 per diluted share) in the first quarter of 2007, compared to US$12.3 million (US$0.19) per diluted share for the same period last year.

Non-GAAP net income is computed by adjusting GAAP net income by the impact of recurring amortisation of acquisition-related intangibles, stock-based compensation expenses and certain tax charges, as well as other non-recurring charges and gains.