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Kornit Digital's Q2 revenue up 12.6%
04
Aug '16
Courtesy: Kornit Digital
Courtesy: Kornit Digital
As a result of higher volumes in machines and inks, in the three months ended June 30, 2016, revenue at Kornit Digital, a producer of digital textile printers, went up 12.6 per cent year on year to $24.0 million.

Gross profit on a non-GAAP basis in the reporting quarter stood at $11.9 million or 49.5 per cent of sales as against $10.1 million, or 47.6 per cent in the year ago period.

“Higher gross margins primarily reflected a favourable sales mix of high throughput systems, and an increased contribution from ink and consumables during the current period,” the company said.

However, non-GAAP operating income declined in the second quarter of 2016 to $1.0 million vis-à-vis $2.7 million in the previous year's comparable quarter.

As a percent of sales, non-GAAP operating margin for the quarter under review slid to 4.0 per cent of sales, compared with 12.9 per cent sales in the earlier year's same quarter.

On a non-GAAP basis, net income for the period under review touched $0.7 million, or $0.02 per diluted share as against $2.4 million in the comparable quarter of last year. (AR)

Fibre2fashion News Desk - India

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