The company reported record first quarter revenue of USD 239.9 million, up 5% compared to first quarter 2017 revenue of USD 228.7 million. It reported gross profit of USD 119.1 million down by 3.4% as compared to USD 123.5 million in first quarter 2017.
Guy Gecht, CEO of EFI, said, “We began 2018 with a very strong Q1, as our direct business (Industrial Inkjet and Productivity Software segments), which grew 17% and now comprises 77% of our sales, drove revenues above expectations. We also met our goals for Nozomi in Q1, and with increasing traction in the packaging market, look for sequential growth in unit shipments through the year.”
The company reported Q1 Industrial Inkjet revenue of USD 142.2m, up 15.4% compared with Q1 2017, Productivity Software revenue of USD 43.8m, up 24.9% year-on-year, and Fiery revenue of USD 53.9m, down 23.4% year-on-year.
“With Nozomi and the solid lineup of new products planned for the second half of the year, the entire EFI team is excited and energized about the significant opportunities in 2018 and beyond,” said Gecht.
Geographically, EFI recorded full-year sales of USD 117.4m in the Americas – down by 6.4% on Q1 2017, USD 88.2m in EMEA countries – up 0.2% year-on-year, and USD 34.3m in the APAC region – up 11.5% year-on-year.