Electronics For Imaging, Inc. (EFI) announced its results for the second quarter of 2012.
For the quarter ended June 30, 2012, the company reported record revenue of $163.9 million, up 16% compared to second quarter 2011 revenue of $141.2 million.
Second quarter 2012 non-GAAP net income was $14.2 million or $0.30 per diluted share, which included an unfavorable non-operational currency impact of $0.03 per share, compared to non-GAAP net income of $11.3 million or $0.23 per diluted share for the same period in 2011, which included a favorable non-operational currency impact of $0.01 per share. GAAP net income was $7 million or $0.15 per diluted share, compared to $3.6 million or $0.07 per diluted share for the same period in 2011.
For the six months ended June 30, 2012, the company reported revenue of $324 million, up 15% year-over-year compared to $281.2 million for the same period in 2011. Non-GAAP net income was $28.3 million or $0.60 per diluted share, compared to non-GAAP net income of $24.8 million or $0.51 per diluted share for the same period in 2011. GAAP net income was $13.2 million or $0.28 per diluted share, compared to GAAP net income of $9.9 million or $0.20 per diluted share for the same period in 2011.
"Our team delivered a record revenue quarter with 16% growth in an increasingly challenging operating environment coupled with currency headwinds. Strong results in our Industrial Inkjet and Productivity Software business segments led to our tenth consecutive quarter of double-digit growth," said Guy Gecht, CEO of EFI. "While our business isn't immune to broader economic trends even though EFI targets the growth areas of print, we continue to see growth opportunities in enabling our customers to transform their businesses and optimize their operations, which allows us both to continue to grow even in a tough environment."
EFI Reports Record Revenue for 2Q 2012