Home / Knowledge / News / Textiles / Kornit expects Q3 2017 revenue to be around $27.0-$28.5 mn
Kornit expects Q3 2017 revenue to be around $27.0-$28.5 mn
28
Sep '17
Kornit Digital, a leading provider of digital printing solutions to textile industry, is expecting the non-GAAP revenue for Q3 2017 to be around $27.0-$28.5 million, compared with its previous guidance of $34.0-$38.0 million. The revenue shortfall is attributable to a single customer, who was unable to take delivery as scheduled of a large number of systems.

Due to the lower system revenue, the company also announced that it expects consolidated third quarter non-GAAP operating margin to be in the range of 3.0-5.0 per cent of non-GAAP revenue, compared with its previously disclosed third quarter guidance of 13.0-17.0 per cent. However, it hopes of a favourable gross margin performance resulting from the higher mix of ink and consumables relative to system sales, as well as an increase in service revenue.

"We are disappointed in the further delay of a key customer's site launch which caused a significant reduction in our quarterly revenues. At the same time, this important customer remains committed to the Kornit platform and we stand ready to execute on the programme when site permit issues abate. This issue notwithstanding, our underlying business continues to grow and we continue to drive meaningful progress in achieving our strategic objectives," said Gabi Seligsohn, Kornit Digital chief executive officer.

"During the third quarter we have added two new Vulcan customers, received an order for multiple Storm Hexa systems from a leading Chinese e-commerce player and continue to increase sales of upgrades, bringing us close to our targeted breakeven point in our services business. I am confident that our strategy will allow us to continue to lead the DTG market as well as expand our position in the roll-to-roll market at a time when digital printing is enabling an online revolution," concluded Seligsohn. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Mat Brown from Pexels

Textiles | On 17th Jul 2018

India increases import duties on textiles & apparel

The Government of India has increased basic customs duty on several...

Courtesy: Pexels

Apparel/Garments | On 17th Jul 2018

India ups duty-free entitlement on trimmings for footwear

The ministry of commerce & industry, Government of India, has raised...

Luis Quijano

Textiles | On 17th Jul 2018

US varsity student cultivates bacterial cellulose in lab

Luis Quijano, a student at the Liberty University in Lynchburg,...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search