Cimpress N.V. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2016; Provides Effective Tax Rate Guidance for the fiscal year 2016
April 27, 2016 at 09:15 pm
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Cimpress N.V. announced unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2016. For the quarter, revenue was $436,817,000 compared to $339,901,000 a year ago. Loss from operations was $17,531,000 compared to income of $4,341,000 a year ago. Loss before income taxes were $36,625,000 compared to income of $9,501,000 a year ago. Net loss was $36,463,000 compared to income of $7,925,000 a year ago. Net loss attributable to company was $33,363,000 or $1.06 diluted per share compared to profit of $8,611,000 or $0.25 diluted per share a year ago. Net cash provided by operating activities was $23,859,000 compared to $1,570,000 a year ago. Purchases of property, plant and equipment was $19,092,000 compared to $15,153,000 a year ago. Purchases of intangible assets were $51,000 compared to $56,000 a year ago. Capitalization of software and website development costs were $6,057,000 compared to $5,068,000 a year ago. Negative free cash flow was $1,341,000 compared to $17,458,000 a year ago. revenue growth was 31%. Excluding both the currency impact and revenue from businesses acquired during the past twelve months, revenue grew 10% year over year in the third quarter. This quarter, about 27% of revenue was in the Upload and Print portfolio
For the nine months, revenue was $1,308,839,000 compared to $1,113,738,000 a year ago. Income from operations was $62,163,000 compared to $81,088,000 a year ago. Income before income taxes were $41,715,000 compared to $101,862,000 a year ago. Net income was $30,858,000 compared to $94,204,000 a year ago. Net income attributable to company was $35,035,000 or $1.07 diluted per share compared to $95,914,000 or $2.85 diluted per share a year ago. Net cash provided by operating activities was $183,535,000 compared to $192,414,000 a year ago. Purchases of property, plant and equipment was $62,641,000 compared to $50,105,000 a year ago. Purchases of intangible assets were $453,000 compared to $201,000 a year ago. Capitalization of software and website development costs were $18,184,000 compared to $12,517,000 a year ago. Free cash flow was $105,881,000 compared to $130,840,000 a year ago.
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For the fiscal year 2016, the company expected GAAP effective tax rate would be at 15% to 20%.
Cimpress plc is focused on mass customization of printing and related products, via which it delivers volumes of individually small-sized customized orders. Its segments include Vista, PrintBrothers, The Print Group, National Pen and All Other Businesses. The Vista segment includes Vista, the parent brand of multiple offerings, including VistaPrint, VistaCreate, 99designs by Vista, Vista Corporate Solutions, and Depositphotos. The PrintBrothers segment includes its druck.at, Printdeal, and WIRmachenDRUCK businesses. The Print Group segment includes its Easyflyer, Exaprint, Pixartprinting, and Tradeprint businesses. The National Pen segment includes the global operations of its National Pen business, which manufactures and markets custom writing instruments and promotional products, apparel and gifts. The All Other Businesses segment includes two businesses grouped together based on materiality. Its products are marketing materials, business cards, signage, packaging and others.
Cimpress N.V. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2016; Provides Effective Tax Rate Guidance for the fiscal year 2016