Electronics for Imaging Inc. Earnings: Tops Analysts’ Expectations

Electronics for Imaging Inc. (NASDAQ:EFII) reported net income above Wall Street’s expectations for the fourth quarter. Electronics For Imaging deals in color digital print controllers, super-wide format printers, and inks and print management solutions.

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Electronics for Imaging Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for the computer peripherals company rose to $11.5 million (25 cents per share) vs. $8 million (17 cents per share) in the same quarter a year earlier. This marks a rise of 42.6% from the year earlier quarter.

Revenue: Rose 12.4% to $163.1 million from the year earlier quarter.

Actual vs. Wall St. Expectations: EFII reported adjusted net income of 36 cents per share. By that measure, the company beat the mean estimate of 28 cents per share. It beat the average revenue estimate of $159.7 million.

Quoting Management: “Our eighth consecutive quarter of double-digit revenue growth, which reflects records for both our Inkjet and APPS segments, completes a very successful year for EFI on many levels. Our team delivered 17% revenue growth in 2011, an approximate 90% increase in non-GAAP net income growth, strong cash flow from operations, and a record level of recurring revenue,” said Guy Gecht, CEO of EFI. “We are excited about the opportunities ahead and plan to accelerate our innovation while continuing to execute on our strategy enabling customers to profit from the transition of analog print to digital technology while driving efficiencies in their businesses.”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 19.7%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 27.2% from the year earlier quarter.

The company beat estimates last quarter after being in line with expectations in the third quarter with net income of 17 cents per share.

Looking Forward: The average estimate for the first quarter of the next fiscal year remains unchanged at 20 cents a share. The average estimate for the fiscal year has remained at 76 cents per share.

Competitors to Watch: Gerber Scientific, Inc. (NYSE:GRB), Canon Inc. (NYSE:CAJ), Xerox Corporation (NYSE:XRX), Sony (NYSE:SNE), Presstek, Inc. (NASDAQ:PRST), Hewlett-Packard Company (NYSE:HPQ) and Duoyuan Printing, Inc. (NYSE:DYP).

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com