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EFI Reports Record First Quarter With Revenue of $171M, Up 7 Percent

Growth across all business segments drives 24 percent operating income increase and solid cash generation

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By: DAVID SAVASTANO

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

Electronics For Imaging, Inc. (EFI) announced its results for the first quarter of 2013.

For the quarter ended March 31, 2013, the company reported first quarter record revenue of $171.4 million, up 7% compared to first quarter 2012 revenue of $160.1 million. First quarter 2013 non-GAAP net income was $15.8 million or $0.33 per diluted share, which included an unfavorable non-operational currency impact of $0.04 per diluted share, compared to non-GAAP net income of $14.2 million or $0.30 per diluted share for the same period in 2012. GAAP net income was $8.4 million or $0.17 per diluted share, compared to $6.2 million or $0.13 per diluted share for the same period in 2012.

“The EFI team delivered a great first quarter with revenue growth above our expectations, a solid increase in profitability, and very strong cash generation,” said Guy Gecht, CEO of EFI. “With new breakthrough products across our portfolio and sales opportunities at trade shows around the globe, we look for this robust demand to continue into the current quarter as EFI’s innovation continues to help customers drive growth and productivity in their businesses.”

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