*NEWS*E.F.I. BOOKS 3RD Q. PROFIT

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*NEWS*E.F.I. BOOKS 3RD Q. PROFIT

 user 2007-10-25 at 10:51:00 am Views: 54
  • #18855

    Electronics for Imaging Books 3Q Profit
    Electronics for Imaging Swings to Profit in 3rd-Quarter, but Misses Wall Street Forecasts
    October 
    2007 NEW YORK  – Electronics for Imaging Inc. said Tuesday it swung to
    a profit in the third quarter, but the digital printer company failed
    to meet Wall Street forecasts because of increased sales of less
    profitable products.EFI shares plunged $6.15, or 22.1 percent, to
    $21.70 in morning trading.Third-quarter earnings totaled $8.1 million,
    or 13 cents per share, compared with a loss of $27.7 million, or 49
    cents per share, in the prior year.

    Excluding amortization
    acquisition-related intangibles and other one-time items, quarterly
    earnings gained 17 percent to $22.3 million, or 34 cents per share,
    compared with $18.5 million, or 29 cents per share, in the third
    quarter of 2006.Third-quarter revenue rose 15 percent to $158.3 million
    from $138.2 million.Analysts surveyed by Thomson Financial, who
    typically exclude one-time items, forecast earnings of 37 cents per
    share on revenue of $159.3 million.EFI Chief Executive Guy Gecht said a
    revenue shift to lower-margin inkjet business hurt the company’s
    earnings results.Gecht also noted that the company’s inkjet business,
    which grew 36 percent and booked record ink revenues, mostly offset its
    Fiery business, which missed revenue expectations.