EFI Announces Preliminary Q1 revenue and earnings, exceeding prior guidance
Tuesday, April 12, 2011
Press release from the issuing company
Foster City, Calif. - Electronics For Imaging, Inc., a world leader in customer-focused digital printing innovation, today announced preliminary unaudited results for the quarter ended March 31, 2011. Based on preliminary data, the Company expects to report revenues in the range of $139 million to $140 million and non-GAAP earnings per share (EPS) in the range of $0.27 to $0.28 per share, including a $0.03 benefit from currency. The Company had previously provided an outlook for the first quarter of 2011 of approximately $128 million in revenues, and non-GAAP EPS of $0.14 to $0.16 per share.
Guy Gecht, CEO of EFI, noted that the outstanding preliminary results reflect robust demand across the company's three business segments, particularly in the Fiery product line. "We were very pleased with the approximately 25% year-over-year increase in revenues, driven by the growth and efficiencies our customers are achieving with EFI's innovative technology. We continued to see strong customer loyalty for our Fiery digital print servers, along with accelerating demand globally for our software application products. At the same time, the strategic initiatives implemented to improve inkjet margins are showing solid results."
Commenting on the tragic events in Japan, headquarters for several of EFI's OEM partners, Gecht continued, "Our hearts go out to the Japanese people. With our long-standing strategic partnerships in Japan, we have developed many close friendships there. We have always had great admiration for the Japanese people's strength and resilience and are confident in their ability to recover and rebuild. We will continue to monitor the recovery efforts for any potential impact on EFI's operations or on our OEM partners."
Q1 2011 Earnings Conference Call Information
EFI will report final, complete financial results on its first quarter 2011 earnings conference call scheduled for April 25, 2011 after the market closes. Investors will be able to access the conference call and slide presentation at the Investor Relations/Events & Presentations portion of EFI's website at www.efi.com or by phone at (866) 613-9183 for domestic callers and (973) 409-9232 for international callers. The conference call ID is 59047043.
A replay of the webcast will also be available at the aforementioned website following the completion of the call.
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