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
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

Trump announces tariffs on $200 bn worth Chinese imports

Apparel/Garments | On 18th Sep 2018

Trump announces tariffs on $200 bn worth Chinese imports

US President Donald Trump escalated the trade war with China on...

Courtesy: Sunrise Bumi Textiles

Textiles | On 18th Sep 2018

Sunrise Bumi developing new products for profitability

Sunrise Bumi Textiles, one of the world's leading quality yarn...

New Zealand bans sheep mulesing

Textiles | On 18th Sep 2018

New Zealand bans sheep mulesing

New Zealand has banned the practice of mulseing sheep, making the...

Interviews View All

Priyanka, Studio Priyanka Rajiv

Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Nitin Soni, Dolphin Jingwei Machines

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Stefan Warnaar, Peak to Plateau

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

John Kelley,

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

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

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

September 2018

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

news category

Related Categories:

Advanced Search