By Jon Robinson
For its second quarter of 2008, Electronics For Imaging reported revenues of US$90.1 million, compared to US$143.8 million in the year ago quarter. In relating this significant quarter loss, the California-based company pointed to a delay in the commercial release of previously announced inkjet technologies.
“Our results reflect the continued challenges in our industry compounded by the delay in broad availability of our new line-up of inkjet printers. While our overall results are disappointing, we are pleased with the approximately 14 percent sequential growth in our inkjet business and the execution on our commitment to align spending with revenue, with operating expenses reduced by 22 percent year-over-year,” said Guy Gecht, CEO of EFI. “Despite the product delay, we remain very excited with the opportunities for our inkjet segment and the record number of industry-leading new products we plan to bring to market over the next several months.”