FOSTER CITY, Calif., Oct. 17, 2013 (GLOBE NEWSWIRE) -- Electronics For Imaging, Inc. (Nasdaq:EFII), a world leader in customer-focused digital printing innovation, today announced its results for the third quarter of 2013.
For the quarter ended September 30, 2013, the Company reported record third quarter revenue of $178.8 million, up 16% compared to third quarter 2012 revenue of $154.1 million. Third quarter 2013 non-GAAP net income was $18.7 million or $0.39 per diluted share, up 41% and 39%, respectively, compared to non-GAAP net income of $13.3 million or $0.28 per diluted share for the same period in 2012. GAAP net income was $16.1 million or $0.33 per diluted share, up 20% and 18%, respectively, compared to $13.4 million or $0.28 per diluted share for the same period in 2012.
For the nine months ended September 30, 2013, the Company reported revenue of $530.5 million, up 11% year-over-year compared to $478.0 million for the same period in 2012. Non-GAAP net income was $52.8 million or $1.09 per diluted share, up 27% and 25%, respectively, compared to non-GAAP net income of $41.7 million or $0.87 per diluted share for the same period in 2012. GAAP net income was $33.9 million or $0.70 per diluted share, also up 27% and 25%, respectively, compared to GAAP net income of $26.7 million or $0.56 per diluted share for the same period in 2012."The EFI team delivered a very strong third quarter with record revenue and a terrific increase in profitability," said Guy Gecht, CEO of EFI. "With new breakthrough products across our portfolio, we expect the demand to continue as EFI's innovation helps customers around the globe win new business and boost productivity." EFI will discuss the Company's financial results by conference call at 2:00 p.m. PDT today. Instructions for listening to the conference call over the Web are available on the investor relations portion of EFI's website at www.efi.com . About EFI EFI™ ( www.efi.com ) is a worldwide provider of products, technology, and services leading the transformation of analog to digital imaging. Based in Silicon Valley with offices around the globe, the company's powerful integrated product portfolio includes digital front-end servers; superwide, wide-format, label, and ceramic inkjet presses and inks; production workflow, web-to-print, and business automation software; and office, enterprise, and mobile cloud solutions. These products allow users to produce, communicate and share information in an easy and effective way, and enable businesses to increase their profits, productivity, and efficiency. Safe Harbor for Forward Looking Statements Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements other than statements of historical fact including words such as "anticipate", "believe", "estimate", "expect", "consider" and "plan" and statements in the future tense are forward looking statements. The statements in this press release that could be deemed forward-looking statements include statements regarding EFI's strategy, plans, expectations regarding its revenue growth, product portfolio, productivity, future opportunities for EFI and its customers, demand for products, and any statements or assumptions underlying any of the foregoing.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts