February 4, 2010, 12:00 AM

E-retailer Shutterfly closes out 2009 with solid growth

It was another strong year of sales growth for photo printing and sharing e-retailer Shutterfly. Sales in Q4 and the full year increased by 21.6% and 15.5%, respectively.

It was another strong year of sales growth for photo printing and sharing e-retailer Shutterfly Inc.

For the fourth quarter ended Dec. 31, Shutterfly, No. 69 in the Internet Retailer Top 500 Guide, (a PDF version of the company’s financial and operating profile can be ordered by clicking on its name) reported:

  • Sales increased 21.6% year over year to $131.0 million from $107.7 million.
  • Net income rose year over year 66.7% to $24.0 million from $14.4 million.
  • Average ticket was $42.40 compared with $39.28 in the fourth quarter of 2009.
  • The number of customers increased 12.5% to 1.8 million from 1.6 million in the prior year.
  • The total number of orders rose 11.1% to 3.0 million from 2.7 million.

"Our strategic investments throughout 2009, combined with our focus on strong execution, innovation and improved efficiencies led to record revenue, profits, and free cash flows," says CEO Jeffrey Housenbold. "We continue to outpace the industry in terms of innovation, user experience, quality, and customer service. With the social expression and personal publishing markets still in the early stages, Shutterfly will focus on extending our leadership position in these large markets throughout 2010."

For the full year, Shutterfly reported:

  • Sales increased year over year 15.4% to $246.4 million from $213.5 million.
  • Net income rose year over year 56.8% to $5.8 million from $3.7 million.
  • Average ticket was $30.74 compared with $28.16 in 2009.
  • The number of customers increased 17.9% to 3.3 million from 2.8 million in the prior year.
  • The total number of orders rose 3.9% to 7.9 million from 7.6 million.
For the first quarter of 2010 and the full year, Shutterfly expects revenue to range from $40.0 million to $42.0 million and $267.0 million to $277.0 million, respectively.

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