EFI in stellar second quarter

Electronics For Imaging (EFI) reported record second quarter revenue of US$245.7m, up by a whopping 21 per cent compared to second quarter 2015 revenue of US$202.7m.

GAAP net income was US$5.2m or US$0.11 per diluted share, compared to US$7.7m or US$0.16 per diluted share for the same period in 2015. Non-GAAP net income was US$26.7m or US$0.56 per diluted share, compared to non-GAAP net income of US$22.9m or US$0.48 per diluted share for the same period in 2015.
For the six months ended June 30, 2016, EFI reported revenue of US $479.8m, similarly up by 21 per cent year-over-year for the same period in 2015.

EFI is one of the fastest growing businesses in print, with a strategy of organic growth through technological innovation and growth through acquisition. It makes most of the rips for digital printers, including for the new generation of high speed webfed systems, and has major markets in wide format printing both flatbed and roll fed, in digital label printing, in workflows, MIS and web to print. It has also just entered the digital textile printing industry, and is major supplier of ceramic printing solutions.

EFI was established in the early 1990s by Efi Arazi, the brains behind the great Scitex company. Since 2000 it has been run by Guy Gecht

Gecht says, “The EFI team delivered a solid quarter despite the disruption caused by global events during the last week of the period. At the same time, EFI’s market position at the drupa tradeshow validated both our strategy and product roadmap.

“We are particularly encouraged by the exceptional reception to our new Nozomi platform. The drupa momentum is feeding into the strength we are seeing in the Industrial Inkjet and Productivity Software segments which keep us on track to deliver our stated goal of $1bn in revenues for the year.”

Nozomi is the 100 foot long digital folding carton press that EFI launched at drupa, which it says will print 9000 80x60cm boards an hour. EFI also launched a new water based ink AquaEndure for applications in areas like wall coverings, wraps and flexible signage.

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