In its goal to become a $1 billion company by the end of the current fiscal year, Electronics For Imaging Inc. of Freemont, California, continues to report record quarterly revenue results. For it third quarter of 2016, ended September 30, 2016, with revenues reaching US$245.6 million, an increase of seven percent compared to third quarter 2015 revenue of US$228.7 million.
“Our balanced business model was again the story in the third quarter,” said Guy Gecht, CEO of EFI. “We are delighted with the strong organic growth in our Industrial Inkjet and Productivity Software segments, coupled with a rebound in cash from operations. We are entering the home stretch of 2016 with a robust pipeline of opportunities to partner with customers around the world in transforming and growing their businesses.”
GAAP net income was US$17.7 million for the company’s current third quarter, up 76 percent compared to US$10.3 million for the same period in 2015. Non-GAAP net income was US$27.6 million, up 16 perccent compared to non-GAAP net income of US$24.1 million for the same period in 2015.
For the nine months ended September 30, 2016, EFI reported revenue of US$725.4 million, up 16 percent year-over-year compared to US$626.0 million for the same period in 2015.
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