Home / Knowledge / News / Textiles / Q4 sales surge 35.1% at Kornit Digital
Q4 sales surge 35.1% at Kornit Digital
10
Feb '16
Sales for the fourth quarter of 2015 at Kornit Digital totaled $25.5 million, a surge of 35.1 per cent over the prior year's fourth quarter when it stood at $18.9 million.

“Higher sales were attributable to widespread growth in all areas, including systems and services as well as inks and consumables,” the digital textile printer manufacturer said in a press release.

Non-GAAP gross profit in the three months to December 31, 2015 was $12.4 million, or 48.6 per cent of sales, compared with $8.6 million, or 45.6 per cent of sales in the year ago quarter.

On a GAAP basis, fourth quarter gross profit reached $12.1 million as against $8.5 million, in the previous year's same quarter.

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

Non-GAAP operating expenses in the fourth quarter increased to $9.1 million, or 35.5 per cent of sales, vis-à-vis $6.9 million, or 36.4 per cent of sales in the same quarter of 2014.

On a GAAP basis, total operating expenses in the reporting quarter were $9.9 million, compared to $7.2 million in the prior year's comparable period.

“The increase in total operating expenses was consistent with the previously stated growth strategy, as the company continues to execute to its global infrastructure build out,” it explained.

Fourth quarter of 2015 non-GAAP research and development expenses touched $3.2 million, or 12.7 per cent of sales as against $2.6 million, or 13.7 per cent of sales in the earlier year's fourth quarter.

Non-GAAP operating profit in the fourth quarter of 2015 increased to $3.3 million, compared to $1.7 million, while as a percentage of sales, adjusted operating margin for the fourth quarter was 13.1 per cent.

Non-GAAP net earnings for the fourth quarter of 2015 were $3.2 million, or $0.10 per diluted share, versus $1.6 million in the same quarter of 2014.

On a GAAP basis, the company reported net earnings of $2.1 million, or $0.07 per diluted share, compared to a net gain of $1.2 million, in the fourth quarter of 2014.

CEO Gabi Seligsohn said, “We are pleased to report a strong finish to our first year as a public company, and are proud of the milestones we have achieved throughout the year.”

“Notably, operating margin improved 350 basis points over the prior-year, despite increased investment in our global infrastructure and R&D, and the addition of almost 100 full-time employees during the year,” he too added.

“We expect that these investments should enable the company to capitalise on its market leading DTG position, and support the ongoing rollout of the Allegro,” Seligsohn observed. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

FDI in Vietnamese textile-garment projects on the rise

Apparel/Garments | On 24th Jun 2018

FDI in Vietnamese textile-garment projects on the rise

The European Union-Vietnam Free Trade Agreement and the Comprehensive ...

Courtesy: Alizilla

Apparel/Garments | On 24th Jun 2018

Alibaba Group sets up office in Kuala Lumpur

Strengthening its commitment to Malaysia, Alibaba Group has set up an ...

Bombay Dyeing plans to wind up Indonesian JV

Textiles | On 24th Jun 2018

Bombay Dyeing plans to wind up Indonesian JV

Bombay Dyeing & Manufacturing Co Ltd plans to wind up its loss making ...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

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


June 2018

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

news category


Related Categories:

Advanced Search