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EFI Reports Record Revenue for Q2 2012

Friday, July 20, 2012

Press release from the issuing company

Electronics For Imaging, Inc. , a world leader in customer-focused digital printing innovation, today announced its results for the second quarter of 2012.

For the quarter ended June 30, 2012, the Company reported record revenue of $163.9 million, up 16% compared to second quarter 2011 revenue of $141.2 million. Second quarter 2012 non-GAAP net income was $14.2 million or $0.30 per diluted share, which included an unfavorable non-operational currency impact of $0.03 per share, compared to non-GAAP net income of $11.3 million or $0.23 per diluted share for the same period in 2011, which included a favorable non-operational currency impact of $0.01 per share. GAAP net income was $7.0 million or $0.15 per diluted share, compared to $3.6 million or $0.07 per diluted share for the same period in 2011.

For the six months ended June 30, 2012, the Company reported revenue of $324.0 million, up 15% year-over-year compared to $281.2 million for the same period in 2011. Non-GAAP net income was $28.3 million or $0.60 per diluted share, compared to non-GAAP net income of $24.8 million or $0.51 per diluted share for the same period in 2011. GAAP net income was $13.2 million or $0.28 per diluted share, compared to GAAP net income of $9.9 million or $0.20 per diluted share for the same period in 2011.

"Our team delivered a record revenue quarter with 16% growth in an increasingly challenging operating environment coupled with currency headwinds. Strong results in our Industrial Inkjet and Productivity Software business segments led to our tenth consecutive quarter of double-digit growth," said Guy Gecht, Chief Executive Officer of EFI. "While our business isn't immune to broader economic trends even though EFI targets the growth areas of print, we continue to see growth opportunities in enabling our customers to transform their businesses and optimize their operations, which allows us both to continue to grow even in a tough environment."

Separately, the company today announced that it has entered into a real estate asset sale agreement with Gilead Sciences, Inc., to sell its Foster City facility for $180 million. Details can be found in a press release posted on the Investor Relations section of the EFI website at http://ir.efi.com.

EFI will discuss the Company's financial results by conference call at 2:00 p.m. PDT today. Instructions for listening to the conference call over the Web are available on the investor relations portion of EFI's website at www.efi.com.

 

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