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Sales Drop in 4Q As EFI Reports Earnings

Thursday, January 25, 2001

Press release from the issuing company

Foster City Calif. – Electronics For Imaging, Inc. (EFI) (NASDAQ: EFII), the world leader in enabling networked printing solutions, announced today that for the quarter ending December 31, 2000, revenues were $132 million as compared to $148 million for the same quarter in 1999. Pro forma net income for the fourth quarter of 2000, which excludes the effect of acquisition charges, was $9 million or $0.17 per fully diluted share. For the year 2000, revenues were $588 million as compared to $571 million for the year 1999. Pro forma net income for 2000 was $77 million or $1.38 per fully diluted share. Actual net income decreased from $25 million or $0.44 per fully diluted share in the fourth quarter 1999 to a loss of $14 million or $0.26 per share which includes charges of $24 million related to the acquisition of Splash Technology. Actual net income for the full year 2000, including charges of $24 million related to the acquisition, was $54 million or $0.97 per share on a fully diluted basis. This compares to net income of $95 million and earnings per share of $1.67 on a fully diluted basis reported for the full year of 1999. “Despite the economic slowdown, demand for EFI products continues to be robust,” said Guy Gecht, CEO, EFI. “Customers are looking for ways to increase efficiency and productivity. EFI delivers a wide range of cost-effective products that help businesses achieve those goals.”

 

 

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