Digital software and wide format specialist EFI has reported record third quarter revenue of US$245.6m ($343.5m).
This result delivered a seven per cent rise on the same period last year. On top of that, GAAP net income rose 76 per cent for the same period. For the nine months ended September 30, 2016, the company reported revenue of US$725.4m, up 16 per cent year-over-year compared to US$626.m for the same period in 2015. GAAP net income of US$25m or US $0.52 per diluted share, rose eight per cent. Non-GAAP net income of US$80.5m or US$1.68 per diluted share was up 18 per cent compared to non-GAAP net income for the same period in 2015.
Guy Gecht, chief executive officer at EFI, says, “Our balanced business model was again the story in the third quarter. We are delighted with the strong organic growth in our Industrial Inkjet and Productivity Software segments, coupled with a rebound in cash from operations.”
“We are entering the home stretch of 2016 with a robust pipeline of opportunities to partner with customers around the world in transforming and growing their businesses.”
