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EFI Reports Record Earnings
Oct 27 2015 08:59:42 , 1034

Fremont, California-based EFI, a wide-format printer manufacturer and workflow software developer, reports setting a record for revenue in its most recent quarter.

For the third quarter of 2015, the company reports revenue of $228.7 million, a 16 percent increase over the $197.7 million of the same quarter a year ago. The company had net income of $10.3 million, or 21 cents per diluted share, compared with $4.8 million, or 10 cents per share, during the third quarter of 2014.

For the first nine months of the year, EFI reported revenue of $626 million, an 8 percent jump over the $579 million of the same period a year ago. The company’s net income through the first three quarters was $23.2 million, or 48 cents per diluted share, compared with year-ago income of $21.8 million, or 45 cents per share.

In his company's Securities and Exchange Commission filing, CEO Guy Gecht praised his company’s solid quarter, noting it had overcome “the negative impact from various foreign currencies and weak emerging markets.

“I’m proud of the way our teams planned and are quickly executing on the integration of Reggiani and Matan,” says Guy. “We are particularly excited about the progress and cross-selling activities with our new Reggiani products reinforcing the tremendous opportunity for digital printing on textile.”

In July EFI announced it had purchased Italian company Reggiani, a maker of digital inkjet textile printers, for approximately $140 million. The same day it announced it was paying approximately $29 million in an all-cash transaction to acquire Israel-based Matan Digital Printers, a manufacturer of superwide-format UV-curing digital printers.