EFI reports eighth quarter of double digit growth

The preliminary results show that earnings per share for the three months ended December 31, 2011 are expected to be US$0.34 to US$0.35 per share, which includes a non-operational unfavourable currency impact of approximately US$0.03.

Earnings per share were at US$0.28 for the three months ended December 31, 2012. EFI says the results were driven by record revenue in both the inkjet and APPS segments, which contributed to continued strong growth in the company’s recurring revenues.

Also in the news, EFI has acquired Cretaprint, a Spanish developer of inkjet printers for ceramic tile printing, for US$31m and an earn-out of up to US$21m based on growth targets for 2012 and 2013.

Guy Gecht, CEO of EFI says, “As evidenced by our record revenues, we are benefiting from strong traction in our industrial inkjet segment and are excited about expanding into the ceramic tile market, which represents a tremendous growth opportunity for EFI.

“We have been tracking the swift transformation from analogue to digital technology in tile imaging for quite some time, and have been deeply impressed with the fast growth and global leadership position of Cretaprint.”

EFI expects the transaction to be accretive to 2012 earnings and immaterial to first quarter 2012 earnings. Cretaprint is expected to contribute approximately 5 per cent to 7 per cent to EFI’s 2012 revenue.

EFI will officially release its fourth quarter financial results this week.

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