Record revenue reported by EFI for Q2, 2012

EFI has announced its second quarter results for 2012.  For the quarter ending 30th June 2012, the Company reported record revenue of US$163.9 million, up 16% compared to second quarter 2011 revenue of US$141.2 million. Second quarter 2012 non-GAAP net income was US$14.2 million or US$0.30 per diluted share, which included an unfavorable non-operational currency impact of $0.03 per share, compared to non-GAAP net income of US$11.3 million or $0.23 per diluted share for the same period in 2011, which included a favorable non-operational currency impact of US$0.01 per share. GAAP net income was US$7.0 million or US$0.15 per diluted share, compared to US$3.6 million or US$0.07 per diluted share for the same period in 2011.

For the six months ended June 30, 2012, the Company reported revenue of US$324.0 million, up 15% year-over-year compared to US$281.2 million for the same period in 2011. Non-GAAP net income was US$28.3 million or US$0.60 per diluted share, compared to non-GAAP net income of US$24.8 million or $0.51 per diluted share for the same period in 2011. GAAP net income was $13.2 million or $0.28 per diluted share, compared to GAAP net income of US$9.9 million or US$0.20 per diluted share for the same period in 2011.

"Our team delivered a record revenue quarter with 16% growth in an increasingly challenging operating environment coupled with currency headwinds. Strong results in our Industrial Inkjet and Productivity Software business segments led to our tenth consecutive quarter of double-digit growth," said Guy Gecht, Chief Executive Officer of EFI. "While our business isn't immune to broader economic trends even though EFI targets the growth areas of print, we continue to see growth opportunities in enabling our customers to transform their businesses and optimise their operations, which allows us both to continue to grow even in a tough environment."

Separately, the company today announced that it has entered into a real estate asset sale agreement with Gilead Sciences, Inc., to sell its Foster City facility for US$180 million.

For more information on EFI, please visit www.efi.com.