Electronics For Imaging (EFII), that provides digital inkjet printers, business process automation solutions, and color digital has reported a 84.15 percent plunge in profit for the quarter ended Dec. 31, 2014. The company has earned $11.92 million, or $0.25 a share in the quarter, compared with $75.18 million, or $1.54 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $25.12 million, or $0.52 a share compared with $23.84 million or $0.49 a share, a year ago.
Revenue during the quarter grew 7.04 percent to $211.10 million from $197.21 million in the previous year period. Gross margin for the quarter expanded 29 basis points over the previous year period to 54.09 percent. Total expenses were 91.82 percent of quarterly revenues, up from 29.27 percent for the same period last year. That has resulted in a contraction of 6256 basis points in operating margin to 8.18 percent.
Operating income for the quarter was $17.26 million, compared with $139.50 million in the previous year period.
"Solid fourth quarter results wrapped-up another terrific year for the EFI team, delivering 9% revenue growth and a 14% increase in EPS, despite the significant negative impact of foreign exchange in the second half of the year," said Guy Gecht, ceo of EFI. "Our ongoing focus on innovation across our entire product line-up is helping our customers around the globe win new business and boost profitability. We are getting increasingly confident in delivering on our $1 billion revenue target for 2016 while hitting the higher end of our profitability range."
Operating cash flow declines Electronics For Imaging has generated cash of $82.34 million from operating activities during the year, down 7.83 percent or $7 million, when compared with the last year.
The company has spent $180.66 million cash to meet investing activities during the year as against cash outgo of $161.86 million in the last year.
Cash flow from financing activities was $220.82 million for the year as against cash outgo of $33.39 million in the last year period. It has made net debt repayment of $335.80 million. It has spent net of $50.24 million on repurchase of common stocks.
Cash and cash equivalents stood at $298.13 million as on Dec. 31, 2014, up 68.36 percent or $121.05 million from $177.08 million on Dec. 31, 2013.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
