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Economic Roundup, CEO Confidence, Index of Economic Freedom, Med
Submitted By:WilliamGumXT WilliamGumXT
Prayer Request:Direct Mail鈥檚 Integral Role within the Marketing Mix: A Direct Marketer鈥檚 Perspective christmas wrapping office supply set By Jean Goodwin November 2, 2004 -- EFI (Nasdaq: EFII) today announced third quarter revenue of $97.6 000 0000 down 1% from $16 million with the third quarter of 2003. Pro forma net gain was $8.9 million or $0.16 per diluted share to the third quarter. On 12 months over year basis, pro forma post tax profit decreased 31% in the $12.8 million and $0.24 per share from your third quarter of 2003. GAAP net profit was $16.a million or $0.30 per diluted share for your quarter, up 31.0% within the GAAP net gain of $12.2 million or $0.23 per diluted share reported for that same period recently. Topics on this summary: Regional Performance Segment Performance Guidance Q & A Regional Performance Revenues inside the Americas increased to $54.9 million showing a 16.4% year over year improvement. The year over year results reflect revenue from print MIS software not included from the previous year offset by declines inside embedded product category. Revenues in Europe were $24.4 million, a 10.5% increase. The year over year came at a decline inside embedded business with modest increase in servers and strong development in professional services. Japan revenues were $14.2 million, down 27.9%. The decline was entirely as a result of reduced embedded sales. In the Asia/Pacific region, revenues were $4.0 million, up 28.2% on the year over year basis or over 7.0% sequentially. The year over year strong results originated from server placement which cancel out the weakness within the embedded category. Segment Performance Server products showed 25.3% in unit volume, contributed 44% of total revenue, and was down 5.4% with a sequential basis. Server product revenue was up 8.8% year over year driven through the S series platform which has been launched inside the fourth quarter 2003. This segment was impacted because of the delay of an server with the existing OEM whose scheduled launch has become pushed seem to the coming year. Embedded Products was 73.7% of volume, and was 30.9% of revenues. Professional Printing Applications continues for being an essential part from the business which is made-up 17.3% of total revenues and showed a 31% organic growth over the third quarter. Miscellaneous segment was 8.0% of total revenue generating up 1% of total volume. This was obviously a 3% decline sequentially. A decrease in spares was the most significant driver in the decline. Guidance EFI anticipates a fourth quarter proforma earnings per share of $0.17. EFI expects fourth quarter revenue to become roughly flat together with the third quarter. Professional Printing Applications take track to get over the 15% to 20% growth guidance. Raine Analyst Take: Many in the questions centered around the performance within the server and PPA segments, your competition and cool product release schedule. EFI is constantly on the believe awesome launches as well as a commitment towards the software business continue because of their solid profitability and strong margin opportunities. Last quarter, EFI restructured their sales organization in the “Printcafe” acquisition by consolidating territories and terminating sales personnel. We believe the restructuring is often a reaction to poor sales for print management systems normally. EFI will continue to target their Hagen products; however within the next 2-3 years, Raine sees the interest on sophisticated estimating software in decline. EFI will need to re-invent the Printcafe suite of items to your new audience otherwise the ROI with this highly-publicized acquisition is questionable the best. Q & A The $1,000,000 severance breakdown will be as follows: $300,000 in R&D, $600,000 in Sales and marketing and $100,000 in G&A EFI sees more on the newer engines produced within the second one half of 2005. The first half with the year continues to maneuver the item that has been pushed out for the end of this season. The basis for less software being offered wasn't as a result of unbundling on the offering. They just sold fewer servers in Q3. The explanation for stating a desire to relieve dependency within the OEMs is usually to slow up the volatility from your financial perspective on EFI. Today 80% from the business is at OEMs and 20% in software. EFI is constantly on the grow faster inside the software side to enhance the percentage of the business in software. EFI continue to contemplate all possible acquisitions when there is certainly a fit both geographically and technically. It was said which a competitor is planning to acquire Strategic Alternatives. EFI hasn't been serious about them with this time. Even though there is certainly a shift using the top customer, EFI won't experience a change inside their product mix as being a result. They always possess a full combination of products thus to their top three customers. As far as market conditions, the dependence on MIS and applications will be as strong as it ever was. The question is concerning when they may be likely to buy it. Competition is usually an aspect; however, you will discover fewer players because of acquisitions. EFI is constantly on the target solutions for your print industry and it is recognized as being a leader from the business. They keep develop goods that are certainly intuitive and therefore are competent to taking action immediately. The timing on the first wave of the brand new controller feature/functionality must be within the second 50 % of 2005 using the second wave in 2006. With the fewer end office, EFI is hoping to obtain a larger share with the market with the addition of feature/functionality that supplies a greater value towards the customer in addition to taking a look at solutions to lower the charge. EFI won't be more affordable compared to a home-grown OEM controller. The expansion in the PPA segment will likely be done primarily by using a network marketing channel by through OEM partners and distributors. The reason for your decline is PPA for Q3 is directly tied towards the decline in server sales. EFI believes with cool product launches this look won't continue. With regards into a stock buy back, EFI will opportunistically take a look at their options. ,Certifying Your Sustainability
Speaking of your 聺transformation of print media聺 driven by renewed investment in IT infrastructure, he noted that printers should have ways for making their services tie into the clientele' business systems. HP, Xerox, and also other print technology providers sense precisely the same chance to help printers gain market by linking to IT, said Purushotham, adding that NexPress will depend upon its 聺culture of speed聺 to cultivate solutions as rapidly as printers require them. ,gift wrapping supplies large roll wrapping paper
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