ROSH-HA`AYIN, Israel—Kornit releases its second-quarter earnings for 2017 in a recent update to investors.
The company reports a non-GAAP net income of $3 million, an increase from a non-GAAP net income of $0.7 million in 2016. Kornit attributes the higher profitability on a non-GAAP basis to an improved gross margin and improved operating costs. The company also cites growth in Europe, the Middle East, and Africa (EMEA) due to its appearances at events and expositions in the EMEA region during the second quarter.
“The printed textile market continues to evolve, demanding faster turnaround times and greater optionality,” states Gabi Seligsohn, CEO for Kornit. “This trend has continued to drive demand for our industrial systems, while high customer utilization rates expand the usage for our inks and consumables.”
Seligsohn (Image courtesy Kornit)
In addition to non-GAAP figures, the report lists GAAP revenue at $28.6 million for the quarter.
To see the full report, visit http://bit.ly/2vjekYP.