Record Q4 pushes full-year revenue to $993m at EFI
EFI has paid tribute to a record financial performance in the fourth quarter after reporting a year-on-year increase in revenue for the 12 months to December 31st, 2017.
Thursday, 01 Feb 2018 11:20 GMT
EFI reported record fourth-quarter revenue of $269.2m in 2017
Full-year revenue came in at $993.3m (£697.4m), up 0.1 percent on the previous year. This comes after a fourth quarter in which revenue hit an all-time high of $269.2m, up 1% on the corresponding period in 2016.
However, EFI did note a decrease in GAAP net income, which fell from a positive of $44.9m in 2016 to a loss of $14.4m in the past 12 months. In addition, non-GAAP net income dropped from $116.2m to $100.7m in the last year.
Reflecting on the results, EFI chief executive Guy Gecht said: “The performance of our direct business drove record quarterly and full year revenue for EFI. We look for this growth from inkjet and software to accelerate in the first quarter.
“Having just finished a very exciting Connect Users’ Conference, the EFI team is energised as we enter 2018, with a year full of new product introductions across the Company and Nozomi on track for a strong first year in the corrugated market. We are well positioned to help customers transform their businesses.”
We are well positioned to help customers transform their businesses”
As Gecht mentions, the publication of the results comes after EFI concluded this year’s edition of its EFI Connect event in Las Vegas, US. Visitors from around the world were in attendance to find out more about some of the latest offerings from the digital print giant.
On display were the new EFI VUTEk HS125 Pro and HS100 Pro Fast-4 hybrid flatbed/roll inkjet press models, which offer a range of super-fast four-colour grayscale modes, with speeds up to 225 boards per hour. In addition, visitors were able to view the EFI VUTEk FabriVU 340i, a soft signage printer that the manufacturer says delivers a lower cost of entry into soft signage applications.
Other highlights included Version 6 of EFI’s Enterprise Commercial, Midmarket Print, Publication, Quick Print, Packaging and Corrugated Packaging Productivity Suites; as well as the EFI MarketDirect next-generation, crossmedia customer engagement platform; and EFI iQuote technology.
Speaking about the event, Gecht says: “The new print is all about putting spectacular images on essentially any material. With digital inkjet technology and automation, the new print brings immense opportunity in the era of the fourth industrial revolution.”
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