Why Electronics For Imaging Popped
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What: Shares of Electronics For Imaging (NAS: EFII) have popped by as much as 10% today on the heels of its first quarter earnings release.
So what: Revenue came out at $160.1 million, topping the market's expectations of $154.9 million. The bottom line was on target with estimates at $0.28 earnings per share. The company saw particular strength in industrial inkjets and productivity software.
Now what: The quarter represented EFI's ninth consecutive quarter of double-digit sales growth along with record inkjet and software sales. CEO Guy Gecht was happy to report a solid quarter that's typically slow seasonally. Looking forward, second-quarter revenue is expected to put up roughly a 15% gain over last year.
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