Electronics For Imaging (EFII) Acquires Cretaprint S.L. in $52M Deal; Issues Strong Q4 Prelim. Numbers
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Price: $36.97 --0%
Financial Fact:
Income (loss) from operations: 9.41M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Income (loss) from operations: 9.41M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Electronics For Imaging, Inc. (Nasdaq: EFII), has acquired privately-held Cretaprint S.L., for approximately $31 million and an earn-out of up to $21 million based on growth targets for 2012 and 2013. Cretaprint, with headquarters in Castellón, Spain, is a leading developer and supplier of inkjet printers for ceramic tiles.
The company expects the transaction to be accretive to 2012 earnings and immaterial to first quarter 2012 earnings. Cretaprint is expected to contribute approximately 5% to 7% to EFI's 2012 revenue.
Separately, the company announced preliminary results for the fourth quarter of 2011, ended December 31. For the fourth quarter the company expects record revenues of approximately $163 million, compared to $145 million in the fourth quarter of 2010, marking EFI's eighth consecutive quarter of double digit growth. The Street sees revs of $158.40 million.
Non-GAAP earnings per share for the three months ended December 31, 2011 are expected to be $0.34 to $0.35 per share, which includes a non-operational unfavorable currency impact of approximately $0.03, compared to earnings per share for the three months ended December 31, 2010 of $0.28 per share. The Street see EPS of 32 cents.
The company noted that the results were driven by record revenue in both the inkjet and APPS segments, which contributed to continued strong growth in the company's recurring revenues.
The company expects the transaction to be accretive to 2012 earnings and immaterial to first quarter 2012 earnings. Cretaprint is expected to contribute approximately 5% to 7% to EFI's 2012 revenue.
Separately, the company announced preliminary results for the fourth quarter of 2011, ended December 31. For the fourth quarter the company expects record revenues of approximately $163 million, compared to $145 million in the fourth quarter of 2010, marking EFI's eighth consecutive quarter of double digit growth. The Street sees revs of $158.40 million.
Non-GAAP earnings per share for the three months ended December 31, 2011 are expected to be $0.34 to $0.35 per share, which includes a non-operational unfavorable currency impact of approximately $0.03, compared to earnings per share for the three months ended December 31, 2010 of $0.28 per share. The Street see EPS of 32 cents.
The company noted that the results were driven by record revenue in both the inkjet and APPS segments, which contributed to continued strong growth in the company's recurring revenues.
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