EFI has announced its first quarter results for 2018.
For the quarter ended March 31, 2018, the company reported record first quarter revenue of $US239.9m ($343m), up five per cent compared to first quarter 2017. It saw a GAAP net loss of US$3.6m compared to GAAP net income of $4.8mn for the same period in 2017. Non-GAAP net income fell 33 per cent compared to last year.
Cash flow from operating activities US$6.3m compared to $14.9m during the same period in 2017.
Guy Gecht, chief executive officer at EFI, says, “We began 2018 with a very strong Q1, as our direct business, which grew 17 per cent and now comprises 77 per cent of our sales, drove revenues above expectations.
“We also met our goals for Nozomi in Q1, and with increasing traction in the packaging market, look for sequential growth in unit shipments through the year. With Nozomi and the solid line-up of new products planned for the second half of the year, the entire EFI team is excited and energised about the significant opportunities in 2018 and beyond.”