Electronics For Imaging, Inc. (NASDAQ:EFII) Files An 8-K Regulation FD DisclosureItem 7.01.
On November14, 2017, Electronics For Imaging, Inc. (the “Company”) will host a conference call to discuss its Notification of Late Filing on Form 12b-25 (the “Form 12b-25”). During the call, the Company will discuss recent developments in management’s assessment of the effectiveness of its current and historical disclosure controls and internal control over financial reporting and the continued evaluation of the accounting impact on any previously reported financial results of the write-off and reduction of the inventory expense and related settlement previously discussed in the Form 12b-25.
The Company’s preliminary earnings announcement for the quarter ended September 30, 2017 reflected an expense of approximately $3.5 million, principally related to a write-off during the third quarter of 2017 of certain inventory that the Company had acquired as part of its 2015 acquisition of Reggiani Macchine S.P.A. After conducting further review, the Company expects to report a material weakness in internal control over financial reporting related to this matter and that its disclosure controls were not effective in prior periods.The Company continues not to expect any negative impact to previously announced financial results for the quarter ended September30, 2017, but the Company now expects that if there is a positive adjustment of the results for the period ended September 30, 2017 over previously disclosed results for that period there may be a negative impact to prior periods.
About Electronics For Imaging, Inc. (NASDAQ:EFII)
Electronics For Imaging, Inc. (EFI) is engaged in digital printing, focused on the transformation of the printing, packaging, ceramic tile decoration, and textile industries from the use of traditional analog-based printing to digital on-demand printing. The Company operates through three segments: Industrial Inkjet, Productivity Software and Fiery. Its products include industrial super-wide and wide format, label and packaging, and ceramic tile decoration digital inkjet printers that utilizes its digital ink, industrial digital inkjet printer parts and professional services; print production workflow, Web-to-print, cross-media marketing and business process automation solutions, and color digital front ends (DFEs) creating a digital printing ecosystem. Its inks include digital ultra-violet (UV), light emitting diode (LED), ceramic, and thermoforming ink, and various textile ink, including dye sublimation, pigmented, reactive dye, acid dye, and water-based dispersed printing ink.