For the three months ended September 30, 2016, revenue at digital printer producer Kornit Digital soared 40.3 per cent to $30.9 million as against $22.0 million in the prior year's third quarter. Sales were driven primarily through significant growth throughout the company's product offerings, with the Avalanche 1000 being a substantial driver of the growth.
In the third quarter of 2016, GAAP gross profit amounted to $13.6 million, or 44.1 per cent of sales vis-à-vis $10.6 million, or 48.0 per cent of sales in the corresponding quarter of the previous year.For the three months ended September 30, 2016, revenue at digital printer producer Kornit Digital soared 40.3 per cent to $30.9 million as against $22.0 million in the prior year's third quarter. Sales were driven primarily through significant growth throughout the company's product offerings, with the Avalanche 1000 being a substantial driver of the growth.#
GAAP operating income in the reporting quarter was down at $0.7 million, compared to $2.2 million in the third quarter of 2015, while non-GAAP operating income rose to $3.9 million versus $3.0 million in the earlier year's same period.
For the quarter under review, GAAP net income fell steeply to $0.4 million, or $0.01 per diluted share, compared to net income of $2.1 million in the third quarter of 2015.
However, on a Non-GAAP basis, net income for the reporting period was $3.6 million, or $0.11 per diluted share as against $2.9 million in the comparable quarter of last year. (AR)
ALCHEMPro News Desk – India
marketing@alchempro.com
