EFI Reports 12 Percent Increase in Revenue
Electronics For Imaging, Inc. (EFI), a world leader in customer-focused digital printing innovation, announced its results for the fourth quarter of 2011.
For the quarter ended Dec. 31, 2011, the company reported record revenue of $163.1 million, up 12 percent year-over-year compared to fourth quarter 2010 revenue of $145.0 million. Fourth quarter 2011 non-GAAP net income was $16.6 million or $0.36 per diluted share, including $0.03 of unfavorable non-operational currency impact, compared to non-GAAP net income of $13.3 million or $0.28 per diluted share for the same period in 2010. GAAP net income was $11.5 million or $0.25 per diluted share, compared to $8.1 million or $0.17 per diluted share for the same period in 2010.
For the 12 months ended Dec. 31, 2011, the company reported revenue of $591.6 million, up 17 percent year-over-year compared to 2010 revenue of $504.0 million. Non-GAAP net income for the year was $53.1 million or $1.12 per diluted share, compared to non-GAAP net income of $27.8 million or $0.59 per diluted share for the same period in 2010. GAAP net income for the year was $27.5 million or $0.58 per diluted share, compared to GAAP net income of $7.5 million or $0.16 per diluted share for the same period in 2010.
“Our eighth consecutive quarter of double-digit revenue growth, which reflects records for both our Inkjet and APPS segments, completes a very successful year for EFI on many levels. Our team delivered 17 percent revenue growth in 2011, an approximate 90 percent increase in non-GAAP net income growth, strong cash flow from operations, and a record level of recurring revenue,” said Guy Gecht, CEO of EFI. “We are excited about the opportunities ahead and plan to accelerate our innovation while continuing to execute on our strategy enabling customers to profit from the transition of analog print to digital technology while driving efficiencies in their businesses.”
For the first quarter of 2012, the company is expecting approximately 10 percent year-over-year revenue growth.
For more information, visit www.efi.com.