EFI is making a motza on its way to $1 billion

Wide format and software technology developer posts a record revenue for 2014 of $790 million up 14% as it closes in on the CEO's goal of a billion turnover by 2016.

Coming off the back of the largest ever Connect Conference in Las Vegas, for the quarter ended December 31, EFI reported record revenue of $211.1 million, up 7% compared to fourth quarter 2013 revenue of $197.2 million.  Despite unfavourable currency shifts when compared to previous years, the company is still one of the most profitable suppliers to the industry.

"Solid fourth quarter results wrapped-up another terrific year for the EFI team, delivering 9% revenue growth and a 14% increase in EPS, despite the significant negative impact of foreign exchange in the second half of the year," said Guy Gecht, CEO of EFI.

"Our ongoing focus on innovation across our entire product line-up is helping our customers around the globe win new business and boost profitability. We are getting increasingly confident in delivering on our $1 billion revenue target for 2016 while hitting the higher end of our profitability range."

Industry analysts are expecting further acquisition moves by EFI this year. While organic revenue growth is good, it's unlikely to be good enough to crack the big billion in time for 2016 without acquiring other companies. EFI has a history of aggressive acquisitions to spur growth. This year's Connect Conference was one of the first where there was no announcement of a significant takeover.

Possible areas of opportunity would be in buying a manufacturer of flatbed wide format machines, to fill a notable gap in its technology offerings.