July 31, 2009, 12:00 AM

VistaPrint closes out fiscal 2009 in solid fashion

Being a global online retailer helped VistaPrint Ltd. shake off the effects of a bad economy for the 2009 fiscal year ended June 30. Total sales and Q4 sales grew year over year by 28.8% and 22.5%, respectively.

Being a global online retailer helped VistaPrint Ltd shake off the effects of a bad economy for the 2009 fiscal year ended June 30.

  • FY 2009 sales grew 28.8% to $515.8 million from $400.6 million in FY 2008.
  • FY 2009 net income grew 39.9% to $55.7 million from $39.8 million in FY 2008.
  • Spending on marketing grew year over year by 24.4% to $159.1 million from $127.9 million and represented 31% of sales.
  • Spending on technology grew year over year by 35.9% to $60.9 million from $44.8 million and represented 12% of sales.
  • Spending on general and administrative expenses grew year over year by 29.8% to $42.2 million from $32.5 million and represented 8% of sales.
"VistaPrint delivered outstanding results for the quarter and for the full year, despite the macro-economic and currency related headwinds we encountered most of the year," says VistaPrint CEO Robert Keane. VistaPrint, No. 44 in the Internet Retailer Top 500 Guide, also posted solid results in the fourth quarter.
  • FY 2009 Q4 sales increased 22.5% to $135.2 million from $110.4 million in Q4 of FY 2008.
  • Q4 net income grew 42.7% to $14.7 million from $10.3 million in FY 2008.
  • Spending on Q4 marketing grew year over year by 24.3% to $42.0 million from $33.8 million and represented 31% of sales.
  • Spending on technology grew year over year by 22.7% to $16.2 million from $13.2 million and represented 12% of sales.
  • Spending on general and administrative expenses grew year over year by 41.2% to $12.0 million from $8.5 million and represented 9% of sales.
  • VistaPrint acquired 1.4 million new customers in the fourth quarter and 5.6 million customers for the full fiscal year.
  • Repeat customers generated 67% of total bookings in the fourth quarter, compared with 65% in the prior year.
  • Average daily order volume in the fourth quarter was 44,000, up 33.3% from 33,000 orders per day in the prior year.
  • The average order value in the fourth quarter was $33.31, compared to $34.00 in Q4 of the prior year.
In fiscal 2009, almost 40% of all revenue – about $206.3 million – came from customers outside of the U.S., a factor that helped VistaPrint weather the current recession, the company says. “We continued to execute across functions, geographies and product lines, which is especially impressive in the context of our decision nine months ago to slow down our rate of investment due to the onset of the recession and the deterioration of currency exchange rates,” says Keane. “As a result, we showed significant leverage in our business in 2009."

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