Electronics for Imaging Inc. (EFII) said Tuesday it expects fourth-quarter adjusted earnings and sales to top Street estimates, due mainly to robust growth in its inkjet and Advanced Professional Print Software businesses.
Additionally, the company acquired privately-held Cretaprint S.L. for about $31 million, in a move to supply inkjet printers to the ceramic tiles industry. The acquisition price could go up to a total of $52 million based on certain milestones. The company expects the deal to be accretive to 2012 earnings and immaterial to first quarter 2012 earnings.
Electronics for Imaging expects fourth-quarter adjusted earnings of $0.34 to $0.35 per share, compared to $0.28 per share last year. Adjusted earnings outlook includes a non-operational unfavorable currency impact of about $0.03 per share.
Wall Street analysts currently expects the company to earn $0.32 per share for the quarter. Analysts' estimates typically exclude special items.
Fourth-quarter revenues are forecast at about $163 million, compared to $145 million a year ago. Analysts currently expect revenues of $158.40 million for the quarter..
Electronics For Imaging acquired Cretaprint S.L. for about $31 million and an earn-out of up to $21 million based on growth targets for 2012 and 2013. Cretaprint is expected to contribute about 5 to 7 percent to Electronics For Imaging's 2012 revenue. Castellon, Spain-based Cretaprint develops inkjet printers for ceramic tiles.
Foster City, California-based Electronics For Imaging Inc. is a provider of color digital print controllers, format printers and inks, and print management solutions.
EFII closed Tuesday at $14.25, up $0.13 or 0.92%, on the Nasdaq. In after hours, the stock dropped $0.08 or 0.57%.
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