Increased Q2 profits for EFI
Electronics for Imaging (EFI) can celebrate an increase in its second quarter revenue, after a drop in the first quarter. However, an overall decrease in revenue for the first half of the year has been recorded.
Friday, 15 Sep 2017 10:37 GMT
EFI hopes to continue the momentum into the rest of the year
Despite the fall in overall revenue, EFI is confident that second quarter improvements will continue into the rest of the year. In the second quarter, EFI’s revenue recorded at $247m (£184.4m) which is an increase of one percent on $245.7m (£183.4m). However, for the six months leading up to June 2017, the firm recorded a drop from $479.8m (£185.1m) to $475.7m (£183.5m).
Guy Gecht, chief executive of EFI, comments: “While we sincerely regret the delay in announcing our second quarter results and the impact on our shareholders, we are pleased to report that the EFI team delivered record Q2 revenue with solid cash generation.
We expect this momentum to continue into the second half of the year,
with anticipated record Q3, while making additional progress on our
pipeline of new industry leading products ”
“We expect this momentum to continue into the second half of the year, with anticipated record Q3, while making additional progress on our pipeline of new industry leading products, including the planned commercialisation of the Nozomi.”
Not only have the figures been announced, but also a new buyback scheme. The board of directors approved a $125m (£92.1 mil) increased investment in the company’s buyback scheme.
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