Electronics for Imaging, Inc. (EFII)
Barclays Capital Global Technology, Media and Telecommunications Conference
May 23, 2012 02:20 pm ET
Vincent Pilette – Chief Financial Officer
Good afternoon. I’m Vincent Pilette, the Chief Financial Officer of EFI and I’ll quickly run through a few slides, sharing with you both the results we obtained and the product offering we provide to the print industry; and then maybe I will go for a few questions.
A quick brief on the Q1 results that we posted here. We delivered a record March quarter in Q1 2012 - $160 million, growing 14%. And that was our ninth consecutive quarter of double digit growth year-over-year which I think everybody will agree for the print industry is pretty remarkable. We’ve posted record revenue for a lot of our new businesses: that would be the inkjet, the industrial inkjet business; the software business; and then also very strong double-digit growth for our recurring business made of maintenance software revenue and the ink revenue stream.
Over 60% of our business is now direct sales which is a far contrast to a few years ago when it was 100% indirect sales. We’ve delivered very good expansion internationally with more than 50% of the revenue being outside the US, and the US being the first market that (inaudible) in the 1990’s and early 2000’s. And then we’ve delivered $20 million non-GAAP EBITDA, 18% year-over-year. And we guided the tenth quarter of double-digit year-over-year growth, 15% revenue growth for next quarter and twice that for the bottom line – 30% year-over-year growth for non-GAAP EPS.