Electronics For Imaging Inc., a global technology company based in Silicon Valley leading the worldwide transformation from analogue to digital imaging, has announced preliminary results for full year and fourth quarter ended December 31, 2016.
The company reported record fourth quarter revenue of US $ 266.7 million, up 4 per cent compared to corresponding period in 2015. Its GAAP income stood US $ 20.5 million, up 99 per cent compared to US $ 10.3 million for the same period in 2015 while non-GAAP net income was US $ 36.3 million, up 23 per cent compared to non-GAAP net income of US $ 29.4 million in the corresponding quarter of 2015.
For the full year ended December 31, 2016, EFI’s revenue stood at US $ 992.1 million, up 12 per cent year-over-year compared to US $ 882.5 million in 2015. GAAP net income was US $ 45.5 million, up 36 per cent compared to US $ 33.5 million for the same period in 2015. Non-GAAP net income totalled US $ 116.8 million, up 19 per cent compared to non-GAAP net income of US $ 97.9 million of 2015.
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Commenting on the results, Guy Gecht, CEO of EFI averred, “EFI delivered another record revenue quarter and our team’s execution drove significant improvements in margins, cash flow, and earnings per share, despite the negative impact of foreign currency. We are more excited about the road ahead this year, especially with our upcoming introduction of the Nozomi platform targeted at digital printing for packaging.”
