EFI has recorded revenue slightly down for the first quarter of 2017 set against the same period last year. For the quarter ended March 31, 2017, it reported revenue of $228.7m, down 2% ($234.1m) on the 2016 period. GAAP net income was $5.5m, up 160% compared to $2.1m for the same period in 2016. Non-GAAP net income was $25.8m, down 2% compared to non-GAAP net income of $26.3m for the same period in 2016. Cashflow from operating activities was $14.9m, up 66% compared to $9m . during the same period in 2016.
"We are pleased that our financial discipline allowed EFI to achieve the midpoint of our non-GAAP EPS outlook despite a slow start to the year," said Guy Gecht, CEO of EFI. "To address the challenges we faced in Q1 we are taking steps to better execute on our pipeline, while further leveraging the solid growth in the textile printing business, the start of the Nozomi beta rollout and our new product introductions in the back half of the year."