EFI Reports Record 2Q 2014 Revenue of $193M, Up 7 Percent
Electronics For Imaging, Inc. (EFI) announced its results for the second quarter of 2014.
For the quarter ended June 30, 2014, the company reported record second quarter revenue of $193.0 million, up 7% compared to second quarter 2013 revenue of $180.3 million.
Second quarter 2014 non-GAAP net income was $21.0 million or $0.44 per diluted share, up 15% and 16%, respectively, compared to non-GAAP net income of $18.3 million or $0.38 per diluted share for the same period in 2013. GAAP net income was $6.9 million or $0.14 per diluted share, down 27% and 30%, respectively, compared to $9.4 million or $0.20 per diluted share for the same period in 2013.
For the six months ended June 30, 2014, the company reported revenue of $381.7 million, up 9% year-over-year compared to $351.7 million for the same period in 2013. Non-GAAP net income was $41.3 million or $0.86 per diluted share, compared to non-GAAP net income of $34.0 million or $0.71 per diluted share for the same period in 2013. GAAP net income was $17.0 million or $0.35 per diluted share, compared to $17.8 million or $0.37 per diluted share for the same period in 2013.
“The EFI team delivered yet another solid quarter, showcasing our balanced portfolio and the benefit of the EFI ecosystem,” said Guy Gecht, CEO of EFI. “Our innovation leadership was the driving factor, with new products launched across our Industrial Inkjet and Fiery portfolios. We look for new innovations to fuel our results for the second half of the year as we help our global customer base achieve their own growth objectives.”
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