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EFI Sets $1 Billion Revenue Target, Increases Long Term Financial Model, Announces $200 Million Share Repurchase Program

NEW YORK, Nov. 8, 2013 (GLOBE NEWSWIRE) -- Electronics For Imaging, Inc. (Nasdaq:EFII) a world leader in customer-focused digital printing innovation, will make a number of financial announcements today at its Investor Day:

  • The Company set a revenue target of $1 Billion and non-GAAP earnings per share of $2.30-$2.60 for FY2016;
  • Announced a $200 Million share repurchase program, expected to be completed in 3 years.

"Industrial imaging is at an inflection point as digital printing technology is disrupting the way manufacturing has been done for decades," stated Guy Gecht, EFI's Chief Executive Officer. "We are early in this transition from analog to digital technology, with EFI's unique portfolio allowing us to capture more of an expanding market. Our deep commitment to continue developing innovative products that make our customers more competitive only furthers our confidence in the financial targets we have provided today."

The Company will provide more detail on the long term financial model and revenue target in the live audio webcast of the event and the slide presentation that will be made available on the Investor Relations/Events & Presentations portion of EFI's website at http://www.efi.com . Instructions for listening to the live audio webcast are available on the Investor Relations portion of EFI's website. A replay of the webcast will be available online at the aforementioned website following the conclusion of the event.

About EFI           

EFIā„¢ ( 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, earnings per share, operating expenses, gross margin, operating margin, product portfolio, product mix, future opportunities for EFI and its customers, demand for and adoption of technology and products, expected completion of its share repurchase program and any statements or assumptions underlying any of the foregoing.

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