EFI Reports Q4, Full Year Results
For the quarter ended Dec. 31, 2007, EFI reported revenues of $152 million, down approximately 1 percent when compared to fourth quarter 2006 revenue of $153.4 million. For the year ended Dec. 31,
2007, revenues were $620.6 million, up approximately 10 percent when compared to $564.6 million in the same period in 2006.
Non-GAAP net income was $14.4 million in the fourth quarter of 2007, down approximately 38 percent when compared to $23.1 million for the same period in 2006. Non-GAAP net income was $78 million for the 12 months ended Dec.31, 2007, up 2 percent from $76.6 million in 2006.
GAAP net income was $7 million in the fourth quarter of 2007, compared to $3.5 million for the same period in 2006. GAAP net income was $26.8 million for the12 months ended Dec. 31, 2007, compared to a net loss of $0.2 million or approximately breakeven on an earnings per share basis for the same period in 2006.
“We are very disappointed with our fourth quarter results and are taking immediate actions to reduce our expenses to reflect the near-term revenue outlook for the Fiery business,” said Guy Gecht, CEO of EFI. “At the same time, we remain confident in our long-term opportunities. We are encouraged by the 27 percent year-over-year revenue growth in our inkjet business, which reflects both its
industry leading product portfolio and the benefits of the investments we have made over the past year.“
For the first quarter of 2008, EFI expects revenues in the range of $133 million to $137 million.
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