EFI's Q1 2016 revenue up 20%

Operating income for the first quarter was reported to be $33.5 million, on a non-GAAP basis, as compared to $28.3 million last year. On a GAAP basis, operating income for the period was $6.7 million as compared to $11.1 million previously, according to a press statement released by EFI.

Non-GAAP net income was $26.3 million or $0.55 per diluted share, which includes an unfavourable balance sheet currency translation impact of $0.01 per share, compared to non-GAAP net income of $21.4 million or $0.45 per diluted share for the same period in 2015.

GAAP net income was $1.9 million or $0.04 per diluted share, compared to $5.2 million or $0.11 per diluted share for the same period in 2015.

Commenting on the results, Guy Gecht, CEO of EFI, “Our team's execution drove another quarter of solid performance across the EFI portfolio, led by good growth in our industrial inkjet segment.”

“At the upcoming drupa tradeshow, we expect to introduce entirely new platforms in every segment of our business, including an expansion into the vast packaging space. We expect products based on these powerful and versatile new platforms to fuel our growth in the coming years,” he added. (MCJ)

Fibre2Fashion News Desk