EFI Q2 Revenue up 10%
Electronics For Imaging of Foster City, California, released its financial results for the second quarter (ended June 30, 2013) with a revenue increase of 10 percent when compared to its second quarter of the previous year.
Revenue for EFI’s most recent second quarter rose to $180.3 million from $163.9 million (all figures in U.S. currency) in Q2 2012, which the company refers to as “all-time record revenue” for corresponding periods. “We could not have been more delighted with the record results the EFI team delivered in the second quarter as our product innovation continues to drive demand across our three segments,” stated Guy Gecht, CEO of EFI. “We look to maintain this momentum into the third quarter as customers increasingly turn to EFI to make their businesses more competitive.”
All three of EFI’s operating sectors experienced revenue growth in the second quarter of 2013, including its Industrial Inkjet segment which grew 10 percent year over year by generating $88.0 million in Q2 3013 from $79.8 million in Q2 2012. In the Productivity Software segment, revenue grew 11 percent to $28.5 in Q2 2013 from $25.7 million in Q2 2012; and EFI’s Fiery segment grew nine percent to $63.8 million from $58.4 million over corresponding periods.
The Americas continues to be EFI's primary business region when comparing from where its $180.3 million in second quarter revenue was generated: Americas, $100.5 million in Q2 2013 revenue; EMEA $50.0 million; and APAC $29.8 million (with Japanese operations accounting for $5.8 million inside the APAC designation). EFI's business in the Americas grew by 22 percent in the second quarter of 2013 when compared to last year's quarter in the region.
Second quarter 2013 non-GAAP net income was $18.3 million or $0.38 per diluted share, compared to non-GAAP net income of $14.2 million or $0.30 per diluted share for the same period in 2012. GAAP net income was $9.4 million or $0.20 per diluted share, compared to $7.0 million or $0.15 per diluted share for the same period in 2012.
For the six months ended June 30, 2013 (first and second quarters), EFI reported revenue of $351.7 million, which is up a total of nine percent year-over-year when compared to $324.0 million for the same period in 2012.
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