Log In | Become a Member | Contact Us


Leading printing executives into the future

Connect on Twitter | Facebook | LinkedIn

Featured:     European Coverage     Production Inkjet Analysis

EFI Reports Q4 Revenues of $152 million

Thursday, January 24, 2008

Press release from the issuing company

FOSTER CITY, Calif. January 23, 2008 - EFI, the world leader in customer-focused digital printing, announced today its results for the fourth quarter of 2007. For the quarter ended December 31, 2007, the Company reported revenues of $152.0 million, down approximately 1% when compared to fourth quarter 2006 revenue of $153.4 million. For the year ended December 31, 2007 revenues were $620.6 million, up approximately 10% when compared to $564.6 million in the same period in 2006.

Non-GAAP net income was $14.4 million or $0.23 per diluted share in the fourth quarter of 2007, down approximately 38% when compared to $23.1 million or $0.35 per diluted share for the same period in 2006.

Non-GAAP net income was $78.0 million or $1.19 per diluted share for the twelve months ended December 31, 2007, up 2% from $76.6 million or $1.18 per diluted share for the same period in 2006.

GAAP net income was $7.0 million or $0.12 per diluted share in the fourth quarter of 2007, compared to $3.5 million or $0.06 per diluted share for the same period in 2006.

GAAP net income was $26.8 million or $0.44 per diluted share for the twelve months ended December 31, 2007, compared to a net loss of $0.2 million or approximately breakeven on an earnings per share basis for the same period in 2006.

Non-GAAP net income is computed by adjusting GAAP net income by the impact of recurring amortization of acquisition-related intangibles, stock-based compensation expenses, certain tax charges, as well as other non-recurring charges and gains.

"We are very disappointed with our fourth quarter results and are taking immediate actions to reduce our expenses to reflect the near-term revenue outlook for the Fiery business," said Guy Gecht, CEO of EFI. "At the same time, we remain confident in our long term opportunities. We are encouraged by the 27% year-over-year revenue growth in our inkjet business, which reflects both its industry leading product portfolio and the benefits of the investments we have made over the past year."

 Outlook for Q1 2008
 
  • For the first quarter of 2008, the Company, as previously communicated, expects revenues in the range of $133 million to $137 million.
  • For the first quarter of 2008, the Company expects non-GAAP earnings per share of $0.18 to $0.20.
  • For the first quarter of 2008, the Company expects a GAAP loss per share of $0.06 to $0.08.
  •  For the first quarter of 2008, the Company expects a non-GAAP tax rate of 24% to 25%.

GAAP net income outlook includes an estimated charge related to non-cash stock based compensation expense. This estimate is subject to change. Both the non-GAAP and the GAAP earnings estimates include the 9.1 million shares related to the Company's contingently convertible debt when dilutive to earnings.

Reconciliation of non-GAAP to GAAP EPS estimates Three Months Ended March 31, 2008
Non-GAAP EPS estimate $ 0.18   $ 0.20  
Amortization of acquisition-related intangibles – pre tax   ($0.11 )   ($0.11 )
Amortization of stock based compensation pre tax   ($0.12 )   ($0.12 )
Restructuring cost – pre tax $ (0.10 ) $ (0.10 )
Tax effect of non-GAAP adjustments $ 0.07   $ 0.07  
GAAP EPS estimate $ (0.08 ) $ (0.06 )

 

 

SHARE

Email Icon Email

Print Icon Print

Become a Member

Join the thousands of printing executives who are already part of the WhatTheyThink Community.

Copyright © 2016 WhatTheyThink. All Rights Reserved