Home / Knowledge / News / Textiles / Non GAAP sales drive up 33.4% at Kornit Digital in Q4
Non GAAP sales drive up 33.4% at Kornit Digital in Q4
Feb '17
For the three months ended December 31, 2016, digital textile machine producer Kornit Digital, witnessed its non GAAP sales driving up 33.4 per cent over the prior fiscal’s fourth quarter to $34.0 million. GAAP sales for the reporting quarter, which are net of the fair value of the warrants associated with revenues recognised from Amazon, were $32.0 million.

According to the Israeli company, higher sales were attributable to growth in volume of sales across all of its products, including systems, ink and consumables as well as services.

GAAP net income in the fourth quarter of 2016 fell steeply to $820,000 as against GAAP net income of $2.1 million, in the fourth quarter of 2015.

On a non-GAAP basis, net income too was down massively at $5.1 million vis-à-vis non-GAAP net income of $3.2 million in the earlier fiscal’s fourth quarter. (AR)

Fibre2Fashion News Desk – India

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