Electronics For Imaging Tops Q1 Forecast, Shares Jump to Fresh Highs

Shares of Electronics For Imaging (EFII ) are up sharply this morning, surging as much as 21%, the most intraday since September 7, 2005, after the digital-printing company announced preliminary unaudited results for the quarter ended March 31, 2011. Based on preliminary data, the company said it now sees revenues in the range of $139 million to $140 million and earnings per share (EPS) of $0. 27-$0.28 cents a share, above its previous forecast of $128 million in revenue and non-GAAP profits of $0.14 to $0.16 per share. Street consensus was $128.2 million and $0.16.

CEO Guy Gecht said in a statement that he was “very pleased with the approximately 25% year-over-year increase in revenues” and that the company is seeing “robust demand across the company’s three business segments,” particularly for its Fiery product line.

EFI will report final, complete financial results on its Q1 2011 earnings conference call scheduled for April 25, 2011 after the market closes.

EFII gained $2.49, or 16.61%, to $17.48 at 11:32 a.m. E.T. in Nasdaq composite trading. Day’s range: $17.41 – 52-wkh $18.15. Volume of 1.2 million shares is already 10x more than the daily average volume of  just 174,000 shares. EFII has support at $17.16, resistance at $18.15.

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About Ron Haruni 1036 Articles
Ron is the Co-Founder & Editor in Chief of Wall Street Pit. Web Site: Wall Street Pit

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