EFI forecasts record year after record quarterly growth

Sales for the three months to 30 June 2013 grew 10% year-on-year to US$180.3 million ($195.7 million) and operating profit jumped 19% to US$23.4 million.

Chief executive Guy Gecht said: "We’re very pleased that the momentum of Q1 accelerated in our June quarter resulting in a solid 10% top-line growth, a fantastic all-time record quarter for EFI."

He said last month’s Fespa was a particular highlight, and that the company had enjoyed its most successful show to date in terms of sales and lead generation.

Breaking down the numbers by region, the company reported that the Americas were exceptionally strong in Q2, growing 22%, while Asia, excluding Japan, grew 10%.

[Feature: EFI raises the stakes in MIS]

However, "the tough European market" fell 3%, mainly due to the migration of industrial tile printing to Asia, although the Fiery and MIS segments actually grew.

Gecht said the 26% growth in UV ink volumes was his personal Q2 highlight, "because it shows that our [Vutek] customers are growing even faster than EFI".

He said a lot of the growth in UV ink volumes was due to strong out-of-home markets and the continued move from screen to digital printing.

Chief financial officer Vincent Pilette said EFI also had good half-yearly figures to report, with sales growing 9% to US$351.7 million and operating profit up 21% to US$45.8 million.

"We’re on track for a record revenue year," he added.

[Related: More finance news]

This article originally appeared at printweek.com

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