Since there's no other posts: Electronics For Imaging, Inc. (EFI) (NASDAQ:EFII), the world leader in enabling
networked printing solutions, announced today that it anticipates the results for the Second Quarter ending in June to be approximately $150 million in revenue and between $.38 and $.40 earnings per share. Guy Gecht, Chief Executive Officer, stated: "Although the company's policy has been to not provide guidance, we decided to provide this interim
update on the quarter's progress when we realized the gap that developed between analysts' expectations and the actual rate of business closing during the quarter. While the flat sequential revenue this quarter is disappointing, we want to reiterate our conviction in the long term prospects for EFI in our marketplace."
For the second half of fiscal 2000, the Company currently
estimates revenue growth of approximately 10% to 13% over the $306 million in revenue reported during the second half of fiscal 1999.
In addition to the revenue update, the company announced that EFI's Board of Directors authorized a stock repurchase program of up to $100 million. Gecht added, "As an indication of the high level of confidence in our future prospects, we believe allocating $100 million toward a stock repurchase is in the best interests of our stockholders
at this time."
The company will hold a conference call at 2:15 p.m. Pacific Time, 5:15 p.m. Eastern Time today, Monday, June 5, 2000 to further discuss this announcement. The call can be accessed on the World Wide Web at www.efi.com.
The foregoing statements regarding anticipated results for the June quarter are preliminary and forward-looking. Actual results could differ materially, based, among other things, on the actual order and shipment rate during the remaining month of the quarter and on any accounting adjustments made during the quarterly close. The foregoing
statement regarding anticipated revenue growth rate during the second half of the year is also forward-looking. The actual growth rate will depend upon various factors, including: the timing and magnitude of revenue derived from sales of existing products and the launch of new
products, market acceptance of new products, growth rates of market segments within which we currently participate, component pricing and availability, our ability to manufacture products at a rate consistent with market needs, our ability to retain our current OEM partners, our
ability to develop new products in a timely fashion, competitive offerings in our market, our ability to maintain pricing at a level consistent with our expectations and seasonal purchasing patterns of our OEM partners. For additional information on these and other risk factors affecting an investment in the Company, please see the
Company's most recent quarterly report on Form 10-Q.
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