Vistaprint N.V. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2011; provides earnings guidance for the third quarter and full year of 2012
January 26, 2012 at 09:05 pm
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Vistaprint N.V. announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2011. For the quarter, the company reported revenue of $299,862,000 against $234,064,000 a year ago. Income from operations was $32,542,000 against $38,185,000 a year ago. Income before income taxes was $34,568,000 against $37,937,000 a year ago. Net income was $31,697,000, or $0.82 per diluted share against net income of $34,014,000, or $0.75 per diluted share a year ago. Net cash provided by operating activities was $81,139,000 against $73,875,000 a year ago. Purchases of property, plant and equipment was $13,447,000 against $10,831,000 a year ago. Non-GAAP adjusted net income was $37,866,000, or $0.97 per diluted share against non-GAAP adjusted net income of $40,449,000, or $0.89 per diluted share a year ago.
For the six months, the company reported revenue of $512,222,000 against $404,551,000 a year ago. Income from operations was $42,288,000 against $50,518,000 a year ago. Income before income taxes was $44,847,000 against $50,010,000 a year ago. Net income was $39,869,000, or $0.99 per diluted share against net income of $44,795,000, or $0.99 per diluted share a year ago. Net cash provided by operating activities was $111,680,000 against $92,677,000 a year ago. Purchases of property, plant and equipment was $24,445,000 against $24,978,000 a year ago. Non-GAAP adjusted net income was $50,914,000, or $1.25 per diluted share against non-GAAP adjusted net income of $56,781,000, or $1.24 per diluted share a year ago.
The company also provided earnings guidance for the third quarter of 2012. For the quarter, the company expects revenue of approximately $246 million to $261 million, or 21% to 28% growth year over year in reported terms. GAAP loss per share of approximately $0.19 to $0.04 which assumes 36.4 million weighted average basic shares outstanding. Non-GAAP adjusted net income per diluted share of approximately $0.14 to $0.29, which excludes expected acquisition-related amortization of intangible assets of approximately $2.4 million or approximately $0.06 per diluted hare, share-based compensation expense and its related tax effect of approximately $8.8 million or approximately $0.23 per diluted share, and tax charges related to the alignment of acquisition-related intellectual property with global operations of approximately $1.5 million, or $0.04 per diluted share.
For the full fiscal year ending June 30, 2012, the company expects revenue of approximately $1,006 million to $1,036 million, or 23% to 27 % growth year over year in reported terms. GAAP earnings per share of approximately $0.86 to $0.98, which assumes 39.4 million weighted average diluted shares outstanding. Non-GAAP adjusted net income per diluted share of approximately $1.71 to $1.83, which excludes expected acquisition-related amortization of ntangible assets of approximately $5.9 million or approximately $0.15 per diluted share, share-based compensation expense and its related tax effect of approximately $26.5 million or approximately $0.67 per diluted share, and tax charges related to the alignment of acquisition-related intellectual property with global operations of approximately $1.5 million, or $0.04 per diluted share. capital expenditures of approximately $60 million to $70 million. Planned capital investments are designed to support the planned growth of the business.
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.
Vistaprint N.V. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2011; provides earnings guidance for the third quarter and full year of 2012