Electronics For Imaging Announces 2Q Results, Strong Color Sales
Press release from the issuing company
FOSTER CITY, Calif.--July 12, 2001--Electronics For Imaging (EFI), the world leader in providing hardware and software imaging solutions for networked printers and copiers, announced today that for the quarter ending June 30, 2001, revenues were $144 million as compared to $152 million for the same quarter in 2000. Pro forma net income for the second quarter of 2001, which excludes the effect of goodwill amortization charges, was $14 million or $0.26 per fully diluted share.
For the six months ended June 30, 2001, revenues were $285 million as compared to $304 million for the same period 2000. Pro forma net income for the six months ended June 30, 2001 was $27 million or $0.49 per fully diluted share.
Including Pro-Forma items, net income decreased from $23 million or $0.40 per fully diluted share in the second quarter 2000 as compared to $12 million or $0.21 per share in the second quarter 2001.
Including Pro-Forma items net income for the six months ended June 30, 2001, was $22 million or $0.40 per share on a fully diluted basis. This compares to net income of $48 million and earnings per share of $0.84 on a fully diluted basis reported for the six months ended June 30, 2000.
As of June 30, 2001, the company's total assets were $698 million versus $654 million reported as of December 31, 2000. Cash and investments were $444 million as of June 30, 2001, up from $368 million reported as of December 31, 2000.
"The strong demand for our color products helped us maintain our momentum in the second quarter despite the tough economic climate,'' said Guy Gecht, CEO of EFI. "While the economic weakness is spreading to Europe, making future revenue growth more difficult, our robust color business allows us to reaffirm our profit outlook for the second half of the year.''
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