So impressed is EFI with its results so far that the company has raised its expectations for the fourth quarter. It expects revenues in the range of $US140m to $US143m and pro forma earnings per share of $0.33 to $0.35.

EFI CEO Guy Gecht attributes much of the good results to the company’s Fiery technology.

“Our Fiery controller business exceeded our expectations, as we continue to experience stronger than anticipated customer demand for Fiery technology across our OEM partners,” says Gecht.

“We are also very encouraged by the performance of our VUTEk superwide digital inkjet printing business in its first full quarter as part of EFI. In addition to the positive impact on the fourth quarter, we anticipate this demand to continue throughout 2006, balanced by the normal first half seasonality.”

Both pro forma net income ($US21.8m) and GAAP net income ($US18.5m) increased compared to the same period last year.
However, GAAP net loss, reflecting a charge for in-process research and development and the amortisation of intangibles, for the nine months ended September 30, 2005 was $15.4 million or $0.28 per diluted share compared to net income of $37.2 million or $0.61 per diluted share for the same period in 2004.

As of September 30, 2005, the EFI’s total assets were $US1.04bn, up from the $US1.02bn reported as of December 31, 2004. Total liabilities as of September 30, 2005 were $US375.1m, up from the $US350.3m reported as of December 31, 2004.

Comment below to have your say on this story.

If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.  

Sign up to the Sprinter newsletter