July 27, 2011, 5:01 PM

Acquisitions help grow the top line for Shutterfly in Q2

Revenue increased 62% to $75.8 million from $46.8 million in the second quarter of 2010.

Mark Brohan

Research Director

Lead Photo

For the first second quarter ended June 30, Shutterfly, No. 67 in the Internet Retailer Top 500 Guide, reported:

  • Revenue increased 62% to $75.8 million from $46.8 million in the second quarter of 2010. Acquisitions of companies such as Tiny Prints in part spurred the increase in sales, though Shutterfly didn’t release any specific metrics.
  • The number of transacting customers grew 27% to 1.41 million from 1.11 million.
  • Orders increased 22.2% to 2.2 million from 1.8 million.
  • Average order value increased 2.1% to $26.10 from $25.56.
  • The number of orders per customer remained flat at 1.6
  • Net loss narrowed 38% to $3.65 million from $5.89 million.

“Bolstered by contributions from our Tiny Prints acquisition, Cards & Stationery and Photo Books once again fueled our strong second quarter performance, reinforcing what we believe is a winning combination of our two companies," says CEO Jeffrey Housenbold. "Our multibrand strategy combined with our loyal and growing customer base is strengthening our leading position in the online personal expression and photo publishing market."

Shutterfly, an online snapshot processor and photo album retailer, projects revenue for the third quarter of $73 million to $75 million, and for the year $475 million to $485 million. Shutterfly’s 2010 sales totaled $307.7 million, up 25% from 2009.

For the first two quarters, Shutterfly reported:

  • Revenue increased about 44% to $132.99 million from $92.55 million in the first two quarters of 2010.
  • Net loss widened about 7% to $11.41 million from $10.62 million.

         

 



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