Kornit Digital, an international manufacturing company, based in Israel, has reported that sales for the fourth quarter of FY15 totalled at US $ 25.5 million, up 35.1 per cent from US $ 18.9 million in the corresponding period last year. As per the press release from the company, higher sales were attributable to extensive growth in all areas, including systems and services as well as inks and consumables.
At Kornit Digital, Non-GAAP gross profit in the three months to December 31, 2015 was US $ 12.4 million against US $ 8.6 million. On a GAAP basis, gross profit for the reporting period reached US $ 12.1 million compared with US $ 8.5 million in the same period last year. In the period under review, Non-GAAP operating expenses zoomed to US $ 9.1 million, or 35.5 per cent of sales, as against US $ 6.9 million, or 36.4 per cent of sales last year. On a GAAP basis, total operating expenses were US $ 9.9 million against US $ 7.2 million in the comparable period last year.
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Non-GAAP operating profit in the reporting period surged to US $ 3.3 million compared with US $ 1.7 million. And, Non-GAAP net earnings in the same period were US $ 3.2 million as against US $ 1.6 million in the same quarter of 2014.
The textile printer firm said in a release, “Higher gross margins primarily reflected a favourable sales mix of high throughput systems, and a stronger contribution from ink and consumables during the current period. The increase in total operating expenses was consistent with the previously stated growth strategy, as the company continues to execute to its global infrastructure build out.”
