Despite the costs of acquiring Best, Printcafe and T/R Systems, net income for the year rose 39% to 14.4m ($26.5m) on sales up 8.3% to 207m.
Net income in the fourth quarter, when the T/R Systems and Printcafe deals were completed, fell 86% to 600,000 on sales up 19% to 59m. For the first quarter 2004 the firm expects revenues of 56m.
We finished 2003 with an encouraging level of business activity and weve started 2004 with a strong growth outlook, said EFI chief executive Guy Gecht.
The firm is consolidating its products and services under the EFI umbrella and has dropped the Electronics for Imaging name.
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"Sad to see another print company facing financial trouble. The industry is tough, and this highlights the ongoing challenges many are facing. Hope employees and customers get clarity soon."
"Not surprised, businesses need to prepare for these attacks rather than thinking that they're going to avoid them. At the very least, data needs to be fully protected with air gaps in place..."
"So much for growth then!"
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