Guy Gecht long term CEO stepped down Last July

EFI had a drop of 5% on sales compared to  the equivalent period last year. EFI has attributed the drop  to weakening economic conditions leading to its customers delaying their investment plans. Late in the quarter EFI saw a substantial shift in buying behaviour versus the prior year.

This was felt most significantly in North and South America. Productivity Software declined by around 6%-7% year-on-year.

Customers have become increasingly concerned about the economy with many deciding to defer capital expenditures until they had greater economic certainty. EFI found  the majority of the revenue shortfall was in the  Inkjet business, Long-serving chief executive Guy Gecht's departure was announced in July. EFI’s shares dropped by nearly 18%  following the release of the  results.