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EFI Provides Q4 Business Update: To Report Lower Sales, Earnings

Press release from the issuing company

FOSTER CITY, Calif.--Dec. 16, 2004-- EFI, the world leader in digital imaging and print management solutions for commercial and enterprise printing, today provided a business update for the fourth quarter of 2004 ending December 31. Based upon preliminary estimates, EFI currently expects fourth quarter revenues of approximately $81 million and pro forma net income per diluted share of $0.05, which excludes the impact of amortization of acquisition-related intangibles and other non-recurring charges and gains. Fourth quarter GAAP net income per diluted share is estimated at $0.01. "Our very disappointing results are a direct reflection of the slowing demand for high performance color copiers and tight inventory management by our OEM partners," said Guy Gecht, CEO, EFI. "While we cannot control current market conditions, we are taking immediate steps to improve profitability and are focusing on areas where we can drive growth. Our efforts are specifically aimed at maximizing the returns from the new engine pipeline, enhancing our emerging software business and expediting our expansion in new growth areas."