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Vistaprint Q4 Financials Below Expectations

August 03, 2010
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Vistaprint has posted its fourth financial quarter results which CEO Robert Keane describes as below expectations, but still saw the company's annual income rise 22 percent over that of 2009 to US$67.7 million.

"Since we established fourth quarter guidance in April, unfavorable currency movements impacted our revenue by over $3 million," said Keane. "We are also disappointed in our own constant currency revenue execution for the quarter. On the other hand, we are pleased that our culture of financial discipline enabled us to deliver earnings within our previously established guidance range."

Revenue for the Internet printing company grew 22 percent over the same quarter in 2009 to US$164.3 million. For the full fiscal year, revenue growth was 30 percent, to US$670 million. Vistaprint acquired approximately 1.6 million new customers in the fourth fiscal quarter ending June 30, 2010.  For the full 2010 fiscal year, the number of new customer acquisitions totaled approximately 6.4 million, but the company also saw two-thirds of its revenue come from repeat customers.

Average daily order volume in the fourth quarter of fiscal 2010 was approximately 53,000, reflecting a 20 percent increase over an average of approximately 44,000 orders per day in the same quarter a year ago.

The company forecasts its revenue for 2011 to surpass US$750 million.

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