EFI chief executive Guy Gecht gave an interview to some of the world's press last week when he indicated that despite having to report an 11% decline in Q4 revenues, he would use the economic downturn to expand by selective acquisitions and also a share buyback.
He told reporters that a downturn is the best time to invest so that the company can take maximum advantage when the economy rebounds into positive growth.
EFI recently sold some of its real estate and in the process raised over $137 million which he said would come in handy with the expansion plans.
Gecht said that EFI is planning for a mid-year launch of its new DS series of inkjet presses and would also launch the next generation ink for its QS series.
He indicated that EFI will have a record year for product launches across all their business sectors. "By having stronger products and stronger innovation is the way we will grow during this recession," he said.
EFI Australia
www.efi.com
