EFI CEO, Guy Gecht ‘on track to deliver $1bn revenues for the year’
Strong sales keep the firm on track to reach $1bn annual revenues claims CEO, Guy Gecht but profits fell.
Industrial printing and productivity software divisions were highlighted by Mr Gecht as strongly growing segments of the business.
‘EFI delivered a solid quarter despite the disruption caused by global events during the last week of the quarter,’ said Mr Gecht. ‘At the same time, EFI’s market position at the drupa tradeshow validated both our strategy and product roadmap, and we’re particularly encouraged by the exceptional reception to our new Nozomi platform.’
The company reported record second quarter revenue of $246 million for the period ending 30 June 2016, a 21% increase compared to second quarter 2015. However GAAP net income fell 32% to $5.2 million. First half sales rose 21% to $480 million. GAAP net income fell 44% to $7.3 million.
