July 28, 2010, 4:23 PM

Annual e-commerce sales spike for Vistaprint.com

Total sales were $670.03 million in fiscal 2010, up 29.9% from $515.82 million in fiscal 2009.

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Vistaprint Ltd. has closed the books on a successful fiscal 2010.

For the fiscal year ended June 30, Vistaprint reports:

  • Total sales were $670.03 million, up 29.9% from $515.82 million in fiscal 2009.
  • Net income was $67.74 million, a 21.7% increase from $55.68 million fiscal 2009.
  • Marketing and sales expenses were $216.57 million, a 36% increase from $159.14 million in the prior year.
  • Technology expenses were $78.38 million, up 28.7% from $60.92 million in the previous year.
  • Vistaprint, No. 36 in the Internet Retailer Top 500 Guide, acquired about 6.4 million new customers.

"On an annual basis, we have much to be excited about as we continued our track record of delivering at or above our aggressive annual targets," says CEO Robert Keane. "Compared to the guidance we established at the beginning of the fiscal year, we outperformed on revenue and delivered at the top end on earnings per share, while making important investments in our business.

For the fourth quarter of fiscal 2010, Vistaprint reported:

  • Total sales were $164.30 million, up 21.6% from $135.16 million in the prior year period.
  • Net income was $11.65 million, a 20.7% decrease from $14.69 million.
  • VistaPrint acquired about 1.6 million new customers.
  • Repeat customers generated about 67% of total bookings in the Q4 2010, the same as in Q4 fiscal 2009.
  • Average daily order volume was about 53,000, an increase of 20.5% compared with an average of 44,000 orders per day in Q4 fiscal 2009.
  • Average order value, including revenue from shipping and processing, was $34.56, up from $33.31 in the same quarter a year ago.
  • Web site sessions were 77.8 million, a 25.3% increase from 62.1 million in the prior year.
  • Conversion rate was 6.2%, compared with 6.4% in the year-ago quarter.

“Fourth quarter revenue was below our expectations," says Keane. "Since we established fourth quarter guidance in April, unfavorable currency movements impacted our revenue by over $3 million. 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.”

Vistaprint expects revenue to range from $159 million to $164 million In the first quarter of fiscal 2011 and $750 million to $780 million for the full year.

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