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Digital printer producer EFI posts record Q4 revenue
Jan '17
In preliminary results released for the three months ended December 31, 2016, revenue at digital printer producer, EFI Inc rose to record levels and grew by 4 per cent to $266.7 million as against $256.5 in the year ago quarter. GAAP net income touched $20.5 million, soaring by a steep 99 per cent compared to $10.3 million in the same period in 2015.

For the fourth quarter of 2016, diluted earnings per share surged 105 per cent at $0.43 per diluted share vis-à-vis $0.21 per diluted share for the same period in 2015.

For the year ended December 31, 2016, EFI posted revenue of $992.1 million, an increase of 12 per cent versus $882.5 million in 2015.

GAAP net income in 2016 amounted to $45.5 million, rising 36 per cent as against $33.5 million in the prior year. Diluted earnings per share surged 36 per cent to $0.95 in 2015 compared to $0.70 per diluted share in 2015.

"EFI delivered another record revenue quarter and our team's execution drove significant improvements in margins, cash flow, and earnings per share, despite the negative impact of foreign currency," said Guy Gecht, CEO of EFI. "As we start the New Year we are even more excited about the road ahead, especially with our upcoming introduction of the Nozomi platform targeted at digital printing for packaging." (AR)

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