EFI CEO Calls Fourth Quarter ‘Disappointing’4 Jan, 2005
EFI CEO Calls Fourth Quarter ‘Disappointing’
EFI, a digital imaging and print management solutions for commercial and enterprise printing, provided a business update for the fourth quarter of 2004 ending December 31. Based upon preliminary estimates, EFI currently expects fourth quarter revenues of approximately $81 million. That is well below third quarter revenues of $97.6 million.
"Our very disappointing results are a direct reflection of the slowing demand for high performance color copiers and tight inventory management by our OEM partners," said Guy Gecht, CEO, EFI. "While we cannot control current market conditions, we are taking immediate steps to improve profitability and are focusing on areas where we can drive growth. Our efforts are specifically aimed at maximizing the returns from the new engine pipeline, enhancing our emerging software business and expediting our expansion in new growth areas."