April 27, 2012, 1:53 PM

Vistaprint reports a 26% increase in quarterly revenue

The e-retailer also announces the departure of two senior executives.

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Vistaprint NV, an online retailer of custom printing and related services to consumers and small businesses, said this week that revenue increased 26% year over for the third quarter of fiscal 2012.

For the fiscal third quarter ended March 31, Vistaprint, No. 36 in the Internet Retailer Top 500 Guide reported:

• Total sales hit $257.6 million, up 26.4% from $203.7 million in the same period a year ago.

• Net income was about $300,000, down 98.7% from $22.9 million last year. A company spokeswoman explains the drop in net income by saying that Vistaprint is investing in such areas as marketing and paying acquisition-related costs, part of plans announced last year.

• Marking and selling expenses accounted for 37.9% of revenue, up from 32.7% a year ago.

• Technology and development expenses accounted for 13.8% of revenue, up from 11.2% a year ago.

• Vistaprint acquired 2.4 million new customers in the third fiscal quarter, compared with 1.8 million for the same period last year, a 33.3% increase.

• Average order value, including revenue from shipping and processing, was $35.38, compared with $36.03 a year ago, a 1.8% decrease.

• Order volume was 7.0 million, up 20.7% from the 5.8 million orders in the prior year.

• Revenue from customers in North America was $142.0 million, or 55% of third quarter revenue. North American revenue increased 23% from the prior year.

“We delivered another solid quarter of revenue growth in the third quarter,” says Robert Keane, president and CEO. “Revenue was in the upper half of our guidance range with particular strength in new customer acquisition numbers and in North America, where we are further along with the execution of our long-term strategy initiatives”.

Vistaprint also announced that its chief operating officer, Wendy Cebula, will step down from her job July 1 after 12 years with the e-retailer. Cebula wants to spend more time with her family, Keane says. Chief customer officer and North American president Trynka Shineman will take over Cebula’s duties and assume the new title of chief customer officer and executive vice president, global marketing. Vistapint also says that its president of Europe, Nick Ruotolo, will leave the company July 1 to “pursue other opportunities.”

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