EFI reports improved results for third quarter

The company reported revenue of US$147.3m up 14 per cent year-over-year compared to the third quarter of 2010.

For the third quarter of 2011, non-GAAP net income was US$11.6m or US$0.25 per diluted share, compared to non-GAAP net income of US$10.7 million or US$0.23 per diluted share for the same period in 2010.

For the nine months ended September 30, 2011, GAAP net income was US$16m compared to GAAP net loss of US$0.6m for the same period in 2010.

Guy Gecht, chief executive of EFI says, “The solid results across all of our business segments and geographies marked EFI’s seventh consecutive quarter of double-digit revenue growth, the eighth consecutive quarter of greater than 20 per cent growth in UV ink volume, along with record software and recurring revenues.”

He concludes, “We are pleased that yet again our results demonstrate that our strategy of targeting the growth segments of print with innovative products that deliver compelling returnon investment is working.”

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