UPDATE 1-Electronics for Imaging Q3 results miss Wall St view

(Recasts, adds details, executive comments)

Oct 23 (Reuters) - Digital printing company Electronics for Imaging Inc (EFII.O) on Tuesday posted third-quarter results below analysts' expectations on lower margins at its inkjet business, sending shares down more than 16 percent in late electronic trade.

Third-quarter net income was $8.1 million, or 13 cents a share, compared with a net loss of $27.7 million, or 49 cents a share, for the same period last year.

Excluding items, the company earned 34 cents a share, compared with analysts' estimates of 36 cents.

The Foster City, California-based company posted a 15 percent increase in revenue to $158.3 million. Analysts were expecting $158.9 million, according to Reuters Estimates.

"...the revenue shift to the lower margin inkjet business negatively impacted our earnings per share," Chief Executive Guy Gecht said in a statement.

Sales at the inkjet products division have risen over 36 percent from the year-ago quarter, compared with flat revenue at the controller business, which helps network digital printers.

The company expects margin pressure to continue in the fourth quarter as it sees strong growth in its inkjet business.

For the fourth-quarter, EFI said it expects to earn 35 cents to 38 cents a share, excluding items, on revenue of about $160 million to $165 million.

Analysts expect the company to earn 45 cents a share, excluding items, on revenue of $169.52 million for the fourth quarter.

Shares of the company fell more than 16 percent in late electronic trade to $23.25, after closing at $27.85 Tuesday on the Nasdaq. (Reporting by Mehul Shah in Bangalore)