So our primary mission is really to lead the transformation of analog printing into digital automated color printing. If you look at the print industry it’s a $1.3 trillion industry. Lots of people understand that industry as being in [secular] decline and while maybe that’s true overall there are different departments and market segments that are fast growing and that’s what EFI is focusing on. We’ve developed a unique ecosystem of hardware, software and ink to address that transformation of analog into digital printing, and doing so we transformed our business model from being indirect sales transactional-focused into direct sales or a mix of indirect or direct sales; and a good mix of business models from hardware, software, transactional and non-transactional – focusing really on selling that solution.
We are focusing on favorable market trends within the print industry. If you look at the digital industrial printing, it’s growing steadily. That’s where the iPad or computers or the technology solution will not take over printing – printing on labels, printing for billboards, printing on ceramic where the electronic version will not replace the activity of printing. Marketing professionals have been focusing more on more on the personalized message, driving the variable, data management and really addressing their message to local target audiences.
Color printing jobs have been growing while color/black & white printing in the office has been declining. Professional production color printing jobs have been increasing year-over-year for many quarters now and the jobs are becoming shorter, a faster turnaround time requiring digital and advanced technologies in order to continue to be competitive in that market. And finally, print professionals have looked at more automated solutions to build on the long-term vision of almost a lights-out print manufacturing processes software to automate their print manufacturing processes.
We manage the company in three segments. Industrial inkjet is the first one – about 45% of our revenue stream, really focusing on display graphic driven by the art of form advertising, focusing on labeling and packaging; focusing on now ceramic inkjet printing, and then building UV ink, digital ink for those solutions. We’re the number one worldwide manufacturer for UV digital ink.