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EFI Reports Record Revenues in Q2

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

EFI announced its preliminary results for the second quarter of 2007. For the quarter ended June 30, 2007, the company reported record revenues of $162.5 million, up approximately 18.3 percent when compared to second quarter 2006 revenue of $137.3 million.
    
Non-GAAP net income was $21.7 million or $0.33 per diluted share in the second quarter of 2007, compared to $18.2 million, or $0.28 per diluted share for the same period in 2006.
    
“We are pleased that we exceeded both revenue and earnings expectations in Q2, driven by strength across all three of our major product lines,” said Guy Gecht, CEO of EFI. “The record revenues allowed us to increase investment in our business, while still achieving 18 percent year over year earnings growth. We are increasing our revenue outlook for the full year driven by robust demand for new Fiery products along with VUTEk’s strong sales pipeline, which has been led by the QS product line.”

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