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EFI reports record fourth quarter revenues

EFI reports record fourth quarter revenues

EFI has announced its results for the fourth quarter and year ended December 31st, 2017, which reveal that the company has achieved a record revenue of $269.2 million, up one percent compared to fourth quarter 2016 revenue of $266.7 million.

GAAP net loss was $25.4 million, compared to GAAP net income of $19.9 million for the same period in 2016. Non-GAAP net income was $24.0 million, down 33 percent compared to non-GAAP net income of $35.7 million for the same period in 2016. Cash flow from operating activities was $8.9 million, down 86 percent compared to $65.2 million during the same period in 2016.

For the year ended December 31st, 2017, the company reported revenue of $993.3 million, up 0.1 percent year-over-year, compared to $992.1 million for the same period in 2016. GAAP net loss was $14.4 million compared to GAAP net income of $44.9 million for the same period in 2016. Non-GAAP net income was $100.7 million compared to non-GAAP net income of $116.2 million for the same period in 2016. Cash flow from operating activities was $51.3 million, down 58 percent compared to $121.0 million during the same period in 2016.

Commenting on these results, Guy Gecht, EFI’s CEO, said: “The performance of our direct business drove record quarterly and full-year revenue for EFI. We look for this growth from inkjet and software to accelerate in the first quarter.

“Having just completed a very exciting Connect Users’ Conference, the EFI team is energised as we enter 2018, with a year full of new product introductions across the company and Nozomi on track for a strong first year in the corrugated market. We are well positioned to help customers transform their businesses.”

For further information visit: www.efi.com

 

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