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News > Technology
Printing tech firm warns
October 16, 2000: 6:31 p.m. ET

Electronics For Imaging predicts fourth quarter sharply below forecasts
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NEW YORK (CNNfn) - Computer printing technology company Electronics For Imaging Inc. on Monday reported third-quarter profits that met Wall Street expectations, but warned that fourth-quarter earnings and revenue would fall far short of forecasts due to slack demand.

The San Francisco-based company, which makes hardware and software systems that link computer networks to color copiers and desktop laser printers, reported a third-quarter profit of $20 million, or 37 cents a share, on par Wall Street analysts' estimates. Revenues were $153 million.

graphicBut the company also said it anticipates fourth-quarter net income before special items of between 6 cents and 12 cents per share, and revenue between $115 million and $125 million.

Analysts surveyed by First Call had anticipated the company in the fourth quarter would report a profit of 43 cents a share.

Electronics For Imaging (EFII: Research, Estimates) linked the expected shortfall to weak demand in the printing and imaging market, related to general economic conditions and product transitions with its business partners.

After the release of the report, which came following the end of the regular daily trading session, the company's shares fell more than 25 percent, to about $12.78. During the regular session, the stock shed $1.06 to $17.12. Back to top

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