Double-digit growth in sales and order volume made 2012 a banner year for Shutterfly Inc., an online snapshot processor and photo album retailer.
For the year ended Dec. 31, Shutterfly, No. 53 in the 2012 Internet Retailer Top 500, reported:
- Revenue increased 35.3% to $640.6 million from $473.3 million in 2011.
- The number of transacting customers grew 31.5% to 7.1 million from 5.4 million.
- Orders increased 28.3% to 16.3 million from 12.7 million.
- Average order value decreased 1.9% to $37.58 from $38.30.
- Net income increased 64.3 % to $23.0 million from $14.0 million.
Shutterfly attributes revenue growth to several strategic moves in 2012. In September, it bought mobile app developer Penguin Digital Inc. Shutterfly inked a deal in June with Hallmark Cards Inc., No. 181, that enables Shutterfly customers to create customized Hallmark greeting cards. And in March it bid $23.8 million for Eastman Kodak Co.’s Kodak Gallery service, winning the bid in April.
For the fourth quarter:
- Net sales of $351.8 million, a 33.4% increase compared with $263.8 million in fourth quarter of 2011.
- The number of paying customers grew by 31.3% to 4.2 million from 3.2 million.
- Total orders grew 32.7% from 5.2 million to 6.9 million.
- Average order value decreased 0.3% from $49.93 to $49.80.
- Net income of $53.0 million, a 49.7% increase from $35.4 million in the same quarter a year ago.
For the first quarter and full year of 2013 Shutterfly expects sales to range from $107.2 million to $110.0 million and $739.7 million to $746.0 million, respectively.