Meanwhile, PayPal acquires mobile payments firm Paydient.
Online custom print products retailer VistaPrint reported sales of $79.5 million for the first quarter of fiscal 2008, a year-over-year increase of 59%. The company added about 975,000 new customers during the quarter.
Online custom print products retailer VistaPrint Ltd. reported sales of $79.5 million for the first quarter of fiscal 2008, up 59% from $50 million in the prior year quarter. Net income was $6.9 million, a 15% increase compared with $6 million in Q1 2007.
VistaPrint, No. 79 in the Internet Retailer Top 500 Guide, added about 975,000 new customers in the first quarter of fiscal 2008, ended Sept. 30, 2007, the company says. Repeat customers generated approximately 64% of total quarterly sales, similar to the prior year’s first quarter. Average daily order volume for Q1 2008 topped 26,000, a 60% increase from the prior year quarter’s average of about 16,000.
Average order value in Q1 2008, including shipping revenue, was $31.71 compared with to $31.30 in the prior year quarter. Web site visits in the first quarter of 2008 were 44.6 million, a 65% increase over 27.1 million in Q1 2007. Conversion rate was 5.4% in the first quarter of fiscal 2008, compared to 5.6% in the prior year quarter.
VistaPrint web sites that target non-U.S. markets contributed 34% of total revenue in the first quarter, up from 30% in the prior fiscal year’s first quarter.
“VistaPrint delivered an outstanding first quarter,” says Robert Keane, president and CEO. “Once again, we secured a record number of new customers at a low cost of acquisition, demonstrating the power of our value proposition and our growth opportunity in this large market.”
For the full fiscal year ending June 30, 2008, the company expects revenue between $360 million and $380 million.