April 29, 2010, 3:18 PM

Shutterfly’s first quarter sales rise 27%

Photo printing and sharing e-retailer Shutterfly Inc. reported first quarter net revenue of $45.7 million, a 27% increase from $36.0 million a year ago.

Photo printing and sharing e-retailer Shutterfly Inc. reported first quarter net revenue of $45.7 million, a 27% increase from $36.0 million a year ago.

For the first quarter ended March 31, Shutterfly, No. 67, in the Internet Retailer Top 500 Guide, reported:

  • The company’s net loss narrowed to $4.7 million from $6.2 million in the first quarter of last year.
  • Average ticket was $26.43, up 10% from $24.01 in the first quarter of 2009.
  • The number of customers increased 21% to 1.073 million from 888,000 in the prior year.
  • The total number of orders rose 14% to 1.7 million from 1.5 million.
  • Existing customers accounted for 73% of net revenue.

“We saw a significant uptick in our new customer acquisition during the quarter,” says Jeffrey Housenbold, CEO, during a conference call with analysts. “So our integrated marketing plans and execution against those across both online, offline and partners seems to be working and the overall product proposition relative to the analog retail print at home, I think people are becoming more aware of the space and the differentiated products and services we are offering.”

For the second quarter of 2010 and the full year, Shutterfly expects revenue to range from $43.5 million to $45.5 million and $275 million to $285 million, respectively. That would represent growth of 12% to 17% and 12% to 16%, respectively.

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