Electronics for Imaging Inc (NASDAQ:EFII)
Electronics For Imaging, Inc. (EFII), a global company that provides industrial format display graphics, label and packaging, textile, and ceramic tile decoration digital inkjet printers yesterday reported their first quarter 2017 financial results.
Electronics reported first quarter adjusted earnings of $0.55 per share which fell short of analyst expectations of $0.56 per share . Electronice reported first quarter revenues of $228.7 million which fell short of analyst expectations of $239.3 million.
Electronics For Imaging, Inc. CEO’s Comments
“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.” Globe Newswire
EFII Technical Analysis
Electronics For Imaging
EFII opened trading yesterday at $50.42 which was up from the previous day’s trading close of $50.24. EFII closed trading yesterday at $50.85 and spiked down after market to $44.00, equivalent to a 13% decrease from the closing price. Taking a look at the daily chart we can see that the last time EFII traded below these levels we have to go back to January 19th when it traded at $43.72.
Taking a closer look at the daily chart we can see that before the spike down EFII had been in an overall upward trend dating back to November 4th, 2016 when it traded at $41.26. EFII has a float of 43.03 million shares and traded 1.29 times the normal daily trading volume on Thursday.
For trading purposes, I would like to see EFII open trading on Friday below $46.25 and if it does I would be looking to take a short position at the bell. My stop loss would be $0.35 from my entry position fearing anything more than that and the stock would start to fill in the gap down.
Company Profile
Electronics For Imaging, Inc. provides industrial format display graphics, label and packaging, textile, and ceramic tile decoration digital inkjet printers worldwide. The company’s Industrial Inkjet segment offers VUTEk and Matan format display graphics, Reggiani textile, Jetrion label and packaging, and Cretaprint ceramic tile decoration and construction material digital inkjet printers;
ultra-violet curable, light emitting diode curable, ceramic, water-based, and thermoforming ink, as well as a variety of textile ink, including dye sublimation, pigmented, reactive dye, acid dye, pure disperse dye, and water-based dispersed printing ink; digital inkjet printer parts; and professional services.
Its printing surfaces comprise paper, vinyl, corrugated, textile, glass, plastic, aluminum composite, ceramic tile, wood, and other flexible and rigid substrates. The company’s Productivity Software segment provides software suite that enables end-to-end business and production workflows for the print and packaging industry.
This segment offers business process automation software; Pace, a cloud-based business process automation software; Metrix, a solution for estimating, planning, and integration into prepress and postpress solutions; cloud-based order entry and order management systems, as well as cross-media marketing systems; and Optitex Textile 3D Design Software.
Its Fiery segment provides stand-alone color printing digital front ends (DFEs) connected to digital printers, copiers, and other peripheral devices; embedded DFEs and design-licensed solutions used in digital copiers and multi-functional devices;
optional software integrated into its DFEs, such as Fiery Central and Graphics Arts Package; Fiery Self Serve, a self-service and payment solution; PrintMe mobile printing application; and stand-alone software-based solutions, such as proofing and scanning solutions. Electronics For Imaging, Inc. was founded in 1988 and is headquartered in Fremont, California.