EFI reports third quarter results

GAAP net loss was $ 12.2 million or $ 0.25m per diluted share in the third quarter of 2009, compared to a GAAP net loss of $ 3.6 million or $ 0.07 per diluted share for the same period in 2008. GAAP net income was $1.2 million or $0.02 per diluted share for the nine months ended September 30, 2009, compared to a GAAP net loss of $ 8.9 million or $ 0.17 per diluted share for the same period in 2008. Non-GAAP net loss was $ 2.6 million or $ 0.05 per diluted share in the third quarter of 2009, compared to non-GAAP net income of $10.4 million or $0.20 per diluted share for the same period in 2008. Non-GAAP net loss was $ 13.1 million or $ 0.26 per diluted share for the nine months ended September 30, 2009, compared to non-GAAP net income of $34.5 million or $0.61 per diluted share for the same period in 2008.

“We are pleased with the sequential revenue increases in all our lines of business, led by 22% growth in our inkjet business driven by several new inkjet product introductions,” said Guy Gecht, CEO of EFI. “We will continue to bring industry-leading innovation to the market and expect our positive momentum to continue which combined with strict cost controls should result in our return to profitability in the current quarter.”

Separately, the company announced today that its Board of Directors has approved the use of the balance, in the amount of $70 million, of its previously authorized $100 million share repurchase program.