Electronics For Imaging (EFI) has achieved a record fourth quarter revenue of US$269.2m, while increasing its full-year revenue from its 2016 results.
For the quarter ended December 31, 2017, the company increased revenue 1 per cent from the fourth quarter 2016 result of US$266.7m.
In its full-year results, EFI’s revenue increased over the previous year, but only by the thinnest of margins, up by 0.1 per cent to US$993.3m from US$992.1m, tantilisingly close to the $1bn marker it is aiming at.
Guy Gecht, CEO, EFI says, “The performance of our direct business drove record quarterly and full year revenue for EFI. We look for this growth from inkjet and software to accelerate in the first quarter.
“Having just finished an exciting Connect Users’ Conference, the EFI team is energised as we enter 2018, with a year full of new product introductions across the Company and Nozomi on track for a strong first year in the corrugated market. We are well positioned to help customers transform their businesses.”
GAAP net loss was US$25.4m compared to GAAP net income of US$19.9m for the same period in 2016, or US$(0.55) per diluted share compared to US$0.42 per diluted share for the same period in 2016.
Non-GAAP net income was US$24.0m, down 33 per cent compared to non-GAAP net income of US$35.7m for the same period in 2016 or US$0.52 per diluted share, down 31 per cent compared to US$0.75 per diluted share for the same period in 2016. Cash flow from operating activities was US$8.9m, down 86 per cent compared to US$65.2m during the same period in 2016.
In its full-year results, EFI’s revenue increased 0.1 per cent to US$993.3m from US$992.1m.
GAAP net loss was US$14.4m or $(0.31) per diluted share, compared to GAAP net income of US$44.9m or US$0.94 per diluted share for the same period in 2016. Non-GAAP net income was US$100.7m or US$2.14 per diluted share, compared to non-GAAP net income of US$116.2m or US$2.43 per diluted share for the same period in 2016. Cash flow from operating activities was US$51.3m, down 58 per cent compared to US$121m during the same period in 2016.
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