19 Sep 2019

EFI Reports Q1 2009 Results

efi electronics for imaging 

Electronics For Imaging, Inc., the world leader in customer-focused digital printing innovation, today announced its results for the first quarter of 2009. For the quarter ended March 31, 2009, the Company reported revenues of $96.1 million, compared to first quarter 2008 revenue of $136.6 million.

GAAP net income was $26.7 million or $0.52 per diluted share in the first quarter of 2009, compared to a net (loss) of $(5.2) million or $(0.10) per diluted share for the same period in 2008.

Non-GAAP net (loss) was $(4.3) million or $(0.08) per diluted share in the first quarter of 2009, compared to net income of $12.0 million or $0.20 per diluted share for the same period in 2008.

Non-GAAP net income is computed by adjusting GAAP net income with the impact of recurring amortization of acquisition-related intangibles, stock based compensation expense, project abandonment costs, certain tax charges, as well as non-recurring charges and gains, such as asset impairment charges and our sale of certain real estate assets.

“Our results reflect the continued weakness in the global economy as well as our ongoing cost reduction efforts, which resulted in a 14% year-over-year decrease in operating expenses,” said Guy Gecht, CEO of EFI. “While our industry is not seeing any significant improvement in market demand, we are managing our resources to emerge from this slowdown a stronger company. Our recent introduction of the VUTEk GS3200 and GS5000r UV printers as well as new Fiery applications are key steps in maintaining our industry leadership. We will continue to take proactive steps to mitigate the impact of the current environment with more product innovations as well as an additional reduction in costs in Q2.”

 

EFI offer Stimulus Finance Package

efi vutek logo 

Currently being offered exclusively in the United States, with global finance programs becoming available in the near future, EFI today announced the innovative EFI Stimulus Package, financing program for its VUTEk® line of superwide printers. The EFI Stimulus Package helps qualified print service providers grow their businesses and protect their cash flows. The program provides for zero out-of-pocket costs for the first six months of ownership followed by 50% off of the normal lease payments for the next six months on new qualifying printer purchases dramatically lowering the first full year cost of ownership This new program is expected to boost businesses' abilities to expand their product portfolios and reach larger revenue-generating customer bases with minimal impact on cash flow for the first year of ownership

"In this challenging economic climate EFI is focused on finding creative financing solutions that will allow our customers to own the industry's best printing solutions," said EFI president Fred Rosenzweig. "The EFI Stimulus Package for VUTEk superwide printers allows print businesses to position themselves ahead of the competition by expanding their product portfolio and customer base, all while spending less cash."

EFI's line of award-winning VUTEk superwide printers has a reputation for speed, high productivity and exceptional color-quality. VUTEk's stunning white ink capabilities open the doors to a whole new world of applications that drive demand by delivering jobs faster and at a higher quality than the competition. Companies can take advantage of all the benefits of digital printing, including the ability to customize messaging, print shorter runs and dramatically reduce production times with VUTEk superwide printers.

"The EFI Stimulus Package allowed us to economically acquire new VUTEk QS3200 technology that will help grow our business with new and more lucrative revenue opportunities without the immediate financial pay back pressures," said Chris Wilson, Venture Printing chairman.