United States Of America : Revenue at Kornit Digital soars 40.3% in Q3

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Revenue at Kornit Digital soars 40.3% in Q3

11
Nov '16

For the three months ended September 30, 2016, revenue at digital printer producer Kornit Digital soared 40.3 per cent to $30.9 million as against $22.0 million in the prior year's third quarter. Sales were driven primarily through significant growth throughout the company's product offerings, with the Avalanche 1000 being a substantial driver of the growth.

In the third quarter of 2016, GAAP gross profit amounted to $13.6 million, or 44.1 per cent of sales vis-à-vis $10.6 million, or 48.0 per cent of sales in the corresponding quarter of the previous year.

GAAP operating income in the reporting quarter was down at $0.7 million, compared to $2.2 million in the third quarter of 2015, while non-GAAP operating income rose to $3.9 million versus $3.0 million in the earlier year's same period.

For the quarter under review, GAAP net income fell steeply to $0.4 million, or $0.01 per diluted share, compared to net income of $2.1 million in the third quarter of 2015.

However, on a Non-GAAP basis, net income for the reporting period was $3.6 million, or $0.11 per diluted share as against $2.9 million in the comparable quarter of last year. (AR)

Fibre2Fashion News Desk – India

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