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EFI Reports Record Revenue of $198M for Third Quarter, Up 11%

Wednesday, October 22, 2014

Press release from the issuing company

Non-GAAP Operating Income Grows 36% to 15.6% of Revenue 

FREMONT, Calif. - Electronics For Imaging, Inc., a world leader in customer-focused digital printing innovation, today announced its results for the third quarter of 2014.

For the quarter ended September 30, 2014, the Company reported record revenue of $197.7 million, up 11% compared to third quarter 2013 revenue of $178.8 million. Non-GAAP operating income was $30.8 million compared to $22.8 million for the same period in 2013. Non-GAAP net income was $20.6 million or $0.43 per diluted share, compared to non-GAAP net income of $18.7 million or $0.39 per diluted share for the same period in 2013. GAAP operating income was $12.9 million compared to $13.9 million for the same period in 2013. GAAP net income was $4.8 million or $0.10 per diluted share, compared to $16.1 million or $0.33 per diluted share for the same period in 2013.

For the nine months ended September 30, 2014, the Company reported revenue of $579.3 million, up 9% year-over-year compared to $530.5 million for the same period in 2013. Non-GAAP operating income was $82.2 million compared to $68.6 million for the same period in 2013. Non-GAAP net income was $61.9 million or $1.28 per diluted share, compared to non-GAAP net income of $52.8 million or $1.09 per diluted share for the same period in 2013. GAAP operating income was $36.2 million compared to $35.2 million for the same period in 2013. GAAP net income was $21.8 million or $0.45 per diluted share, compared to $33.9 million or $0.70 per diluted share for the same period in 2013.

"In the third quarter the EFI team raised the bar on execution with revenues growing 11% to all-time record levels, increasing our confidence in achieving $1 billion in revenue by the end of 2016," said Guy Gecht, CEO of EFI. "We remain sharply focused on that goal as we are helping more and more customers around the world become increasingly competitive and productive."

 

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