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Electronics For Imaging's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Forward-looking statements are statements of risks and uncertainties that could cause our results to vary materially or cause a materially adverse effect on our results. Please refer to the risk factors discussed in our SEC filings and the press release issued today. We do not undertake to update in light of new information or future events.

In addition, reference will be made to non-GAAP financial measures. Information regarding the reconciliation of the non-GAAP and GAAP measures can be found in the press release that is issued this afternoon on our website at the IR Section at www.efi.com. There are also slides available that corresponds to today’s comments.

I’ll now turn the call over to Guy Gecht. Guy?

Guy Gecht

Thank you, JoAnn and thank you all for joining us today. In an increasingly challenging operating environment we’re very pleased we saw Q2 2012 results. We achieved 16% the operating revenue growth for a record of $164 million, which is our tenth consecutive quarter of double-digit revenue growth.

Q2 also marks an all time record for our two high growth segment, our Industrial Inkjet business is at $80 million up 39% from year ago and Productivity Software at $25 million growing 33%. And we again achieved a record level of recording revenue at $43 million including 20% year-over-year. Our team also executed on the cost front which allowed us to deliver non-GAAP EPS of $0.30 per share which included a one-time $0.03 unfavorable non-operational currency impact. Excluding the non-operational currency impact on the other income line, we grew non-GAAP EPS 50% year-over-year. A second very positive development I would like to discuss is our announcement today that we have sold our Foster City headquarters for $180 million, a very attractive price in any economic environment and adding lastly $3 per share after-tax to EFI’s balance sheet.

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