Electronics For Imaging, Inc, a world leader in customer-focused digital printing innovation, has reported a revenue of $228.7 million, down 2 per cent compared to first quarter 2016 revenue of $234.1 million. GAAP net income was $5.5 million, up 160 per cent compared to $2.1 million for the same period in 2016 or $0.12 per diluted share, up 200 per cent compared to $0.04 per diluted share for the same period in 2016.
Non-GAAP net income was $25.8 million, down 2 per cent compared to non-GAAP net income of $26.3 million for the same period in 2016 or $0.55 per diluted share, flat compared to $0.55 per diluted share for the same period in 2016. Cash flow from operating activities was $14.9 million, up 66 per cent compared to $9.0 million during the same period in 2016.
"We are pleased that our financial discipline allowed EFI to achieve the midpoint of our non-GAAP EPS outlook despite a slow start to the year," said Guy Gecht, CEO of EFI. "To address the challenges we faced in Q1 we are taking steps to better execute on our pipeline, while further leveraging the solid growth in the textile printing business, the start of the Nozomi beta rollout and our new product introductions in the back half of the year."
EFI™ is a global technology company, based in Silicon Valley, and is leading the worldwide transformation from analog to digital imaging.