EFI beats Q1 sales guidance with 25% upswing

EFI has announced preliminary results for the quarter ending 31 March, reporting higher than expected revenues.

The company had advised it expected sales in the region of $128m but now expects up to $140m for the quarter driven by its Fiery digital print servers and software.

Chief executive Guy Gecht said the 25% year-on-year increase was also backed up by the inkjet division. "The strategic initiatives implemented to improve inkjet margins are showing solid results," he said.

Shares in EFI opened up 21% on the news, at $18.15.