Promotion for Cutts as EFI plans expansion

EFI chief financial officer Joe Cutts has been appointed as chief operating officer too.

His new role will allow chief executive Guy Gecht and president Fred Rosenzweig to focus on developing its product line and "exploring and closing more business opportunities".

 

The firm announced the change along with its first quarter 2004 results. It also said that it planned to enhance its professional printing products, grow market share in commercial print and to cross-sell products to existing customers.

 

Sales of professional printing products, which includes the former Printcafe and Best products the firm bought last year, increased nearly fivefold for the quarter to 8.6m ($15.4m) and now make up 14% of the firm's revenue.

 

Pro forma net income increased 76% to 6.9m, revenues rose 25% to 60m. EFI said that pro forma income and revenues for the second quarter were in line with expectations, revenue was expected to be 61m.