EFI reports record first quarter revenues

EFI has reported record first quarter revenues. For the period to 31 March 2018 it showed a $239.9m revenue, up 5% compared to first quarter 2017 ($228.7m).

GAAP net loss was $3.6m compared to GAAP net income of $4.8m for the same period in 2017. Non-GAAP net income was $17.2m, down 33% compared to the same period in 2017. Cashflow from operating activities was $6.3m compared to $14.9m for the same 2017 period. “We began 2018 with a very strong Q1, as our direct business*, which grew 17% and now comprises 77% of our sales, drove revenues above expectations. We also met our goals for Nozomi in Q1, and with increasing traction in the packaging market, look for sequential growth in unit shipments through the year,” said Guy Gecht, CEO of EFI. “With Nozomi and the solid lineup of new products planned for the second half of the year, the entire EFI team is excited and energized about the significant opportunities in 2018 and beyond.”