Shutterfly reports 1.5 million orders for Q2
Online digital photo services retailer Shutterfly Inc. reports second quarter 2007 revenue of $29.9 million, up 52% compared with $19.6 million in the same quarter of 2006. The company also netted 1.5 million orders for the quarter ending June 30, a 40% year-over-year increase.
Adjusted earnings before interest, taxes, depreciation and amortization reflect a loss of approximately $584,000, compared to a loss of $285,000 in the second quarter 2006. Shutterfly is No. 93 in the Internet Retailer Top 500 Guide.
“Strong execution across our business drove robust growth across the board – in overall revenue, in revenue from personalized products and services, in orders, and in transacting customers,” says president and CEO Jeffrey Housenbold. “Shutterfly continues to grow rapidly in the expanding markets for social expression and personal publishing.”
Gross profit margins were 50.4% of revenue, compared to 50.3% of revenue for the second quarter 2006.
Shutterfly’s outlook for the full year of 2007 is for revenue in the range of $177 million to $180 million, up 44% to 46% compared with the full year 2006. Gross margins are pegged to fall within the range of 54% to 56%.
Recent e-commerce initiatives include partnering with Target Corp., No. 19 in the Internet Retailer Top 500 Guide, to co-promote photo services on each other’s web sites and in select Target stores, and a partnership with David’s Bridal that includes a series of promotional efforts. Shutterfly is one of David’s Bridal’s web site sponsors.
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