FREMONT, California — January 31, 2018 — Electronics For Imaging, Inc. (Nasdaq:EFII), a world leader in customer-focused digital printing innovation, today announced its results for the fourth quarter and year ended December 31, 2017.
For the quarter ended December 31, 2017, the Company reported record fourth quarter revenue of $269.2 million, up 1% compared to fourth quarter 2016 revenue of $266.7 million. GAAP net loss was $25.4 million compared to GAAP net income of $19.9 million for the same period in 2016 or $(0.55) per diluted share compared to $0.42 per diluted share for the same period in 2016. Non-GAAP net income was $24.0 million, down 33% compared to non-GAAP net income of $35.7 million for the same period in 2016 or $0.52 per diluted share, down 31% compared to $0.75 per diluted share for the same period in 2016. Cash flow from operating activities was $8.9 million, down 86% compared to $65.2 million during the same period in 2016.
For the year ended December 31, 2017, the Company reported revenue of $993.3 million, up 0.1% year-over-year compared to $992.1 million for the same period in 2016. GAAP net loss was $14.4 million or $(0.31) per diluted share, compared to GAAP net income of $44.9 million or $0.94 per diluted share for the same period in 2016. Non-GAAP net income was $100.7 million or $2.14 per diluted share, compared to non-GAAP net income of $116.2 million or $2.43 per diluted share for the same period in 2016. Cash flow from operating activities was $51.3 million, down 58% compared to $121.0 million during the same period in 2016.
“The performance of our direct business drove record quarterly and full year revenue for EFI. We look for this growth from inkjet and software to accelerate in the first quarter,” said Guy Gecht, CEO of EFI. “Having just finished a very exciting Connect Users’ Conference, the EFI team is energized as we enter 2018, with a year full of new product introductions across the Company and Nozomi on track for a strong first year in the corrugated market. We are well positioned to help customers transform their businesses,” concluded Mr. Gecht.
EFI™ is a global technology company, based in Silicon Valley, and is leading the worldwide transformation from analog to digital imaging. We are passionate about fueling customer success with products that increase competitiveness and boost productivity. To do that, we develop breakthrough technologies for the manufacturing of signage, packaging, textiles, ceramic tiles, and personalized documents, with a wide range of printers, inks, digital front ends, and a comprehensive business and production workflow suite that transforms and streamlines the entire production process. (www.efi.com)