Pawan Verma joins Foot Locker as its new chief information officer.
VistaPrint, a web-only retailer that sells business cards, brochures and other print products, reported a 53% rise in Q3 revenue. International sales accounted for much of the growth.
VistaPrint, a web-only retailer that provides business cards, brochures and other customized print products mainly to small businesses, reported a 53% increase in revenue for Q3 compared to a year earlier. The e-retailer says much of the growth stemmed from its web sites aimed at international markets.
VistaPrint, No. 79 in the Internet Retailer Top 500 Guide, reported Q3 revenue of $105.8 million, up from $69.3 million in the third quarter of 2007. The company says 38% of its Q3 revenue came from web sites targeting non-U.S. markets, up from 32% a year earlier. International revenue increased 81% year-over-year in U.S. dollars, while third quarter revenue from U.S. websites grew 39%. Overall, net income was $11.5 million for the third quarter, up 55% from $7.4 million a year earlier.
VistaPrint says it gained more than 1.2 million new customers during the quarter. Average daily order volume also increased, going up by more than 50% to 33,000, compared to 21,000 for Q3 of 2007. Average order value fell slightly from $33.02 for Q3 2007 to $32.54 this year. About 47.6 million Internet shoppers visited VistaPrint sites during the quarter, compared to 34.9 million a year earlier. Conversion rate rose slightly during Q3 to 6.4% from 5.6% a year ago.
"VistaPrint delivered an outstanding third quarter," says Robert Keane, president and CEO. "Our growth investments continue to drive our results and have positioned us for ongoing success. We rolled out a line of signage products and just introduced small business web sites, both of which we are bringing to market with significant competitive advantages."
VistaPrint expects Q4 revenue to be between $105 million and $110 million. For its full fiscal year ending June 30th it projects revenue between $395 and 400 million.