Electronics For Imaging announced its preliminary results for the fourth quarter and year ended December 31, 2016. For the quarter ended December 31, 2016, the company reported record fourth quarter revenue of $266.7 million (all figures in US dollars), up four percent compared to fourth quarter 2015 revenue of $256.5 million.
GAAP net income was $20.5 million, up 99 percent compared to $10.3 million for the same period in 2015 or $0.43 per diluted share, up 105 percent compared to $0.21 per diluted share for the same period in 2015. Cash flow from operating activities was $65.2 million, up 141 percent compared to $27.1 million during the same period in 2015
For the year ended December 31, 2016, the company reported revenue of $992.1 million, up 12 percent year-over-year compared to $882.5 million for the same period in 2015. GAAP net income was $45.5 million, up 36 percent compared to $33.5 million for the same period in 2015 or $0.95 per diluted share, up 36 percent compared to $0.70 per diluted share for the same period in 2015.
“EFI delivered another record revenue quarter and our team’s execution drove significant improvements in margins, cash flow, and earnings per share, despite the negative impact of foreign currency,” said Guy Gecht, CEO of EFI. “As we start the New Year we are even more excited about the road ahead, especially with our upcoming introduction of the Nozomi platform targeted at digital printing for packaging.”
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