Electronics For Imaging – Internal Control Weakness Expected To Be Reported

On August 3, 2017, after the close of trading, Electronics for Imaging (NASDAQ: EFII) announced that it was postponing a conference call regarding its second quarter 2017 preliminary results in order to enable to the company to better assess the timing of revenue recognition related to certain sales transactions.

Specifically, the company announced that it is examining “certain transactions where a customer signed a sales contract for one or more large format printers and was invoiced, and the printer(s) were stored at a third party in-transit warehouse prior to delivery to the end user.”

Electronics for Imaging further disclosed that it is assessing the effectiveness of its current and historical disclosure and financial reporting controls, and that it expects to report a material weakness in internal control related to these transactions. The company stated that it expects to report that disclosure controls were not effective in prior periods as well.

Following this news, Electronics for Imaging’s share price fell sharply in after-hours trading.

Electronics For Imaging – Announces Postponement of Conference Call

Electronics For Imaging announcement that it is postponing a conference call during which it anticipated discussing second quarter 2017 preliminary results to enable Electronics For Imaging to complete an assessment of the timing of recognition of revenue can be viewed by clicking here.

Electronics For Imaging, Inc. Investment Losses?

If you purchased or otherwise acquired shares in Electronics For Imaging and would like to speak privately with a securities attorney to learn more about the investigation, fill out the form to the right or contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected]; Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected]; or send an e-mail to [email protected].

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