Web sales increase by 25% for the year at e-retailer Vistaprint
July 27, 2012 03:40 PM
A strong double-digit increase in fourth quarter and fiscal 2012 revenue for online printing service retailer Vistaprint NV did not generate similar increases in net income.
For the 2012 fiscal year ended June 30, Vistaprint, No. 35 in the Internet Retailer Top 500, reported:
- Total sales of $1.02 billion, a 24.8% increase from $817 million in fiscal 2011.
- Net income of $44.0 million, a 46.4% decrease from $82.1 million in the prior year.
- Marketing and sales expenses were $375.5 million, a 38.2% increase from $271.8 million spent in fiscal 2012.
- Technology expenses were $129.2 million, up 38.0% from $93.6 million in the previous year.
- Vistaprint acquired about 9.4 million new customers.
"During fiscal 2012 we made significant progress against our strategy initiatives fueled by the new investment approach we announced one year ago," says Robert Keane, CEO and president. "We believe we remain on track to achieve our qualitative long-term strategic goals and continue to target the earnings and constant currency revenue growth goals articulated at that time." Vistaprint announced last year that it was adopting a new strategy built on a combination of organic growth, targeted acquisitions and a refocused marketing approach.
For the fourth quarter of fiscal 2012, Vistaprint reported:
- Total sales of $250.4 million, a 19.9% increase from $208.8 million in sales in the fourth quarter of fiscal 2011.
- Net income was $3.9 million, a 72.9% decrease from $14.4 million in the year-ago quarter.
- Marketing and sales expenses were $90.9 million, a 27.5% increase from $71.3 million in the prior year.
- Technology expenses were $37.0 million, a 45.7% increase from $25.4 million spent in the 2012 fourth quarter.
- Vistaprint acquired about 1.2 million customers.
- Repeat customers accounted for 68.0% of total bookings, unchanged from the 2011 fourth quarter.
- Order volume was about 6.4 million, an increase of 14.3% from 5.6 million in the 2012 Q4.
- Average order value, including revenue from shipping and processing, was $36.73, down 2.6% from $37.72 in the prior year.
Vistaprint expects revenue to range from $250.0 million to $260.0 million in the first quarter of fiscal 2013 and $1.175 billion to $1.225 billion for the full year.