Retailers shift their ad spending from TV, radio and print ads to digital ads.
Shutterfly.com ended 2010 with a nice jump in revenue—and profits.
Online retailer Shutterfly Inc., whose services enable consumers to turn their photos into scrapbooks, greeting cards and calendars, ended 2010 with a strong performance, including a nice jump in sales and profits.
For the year ended Dec. 31, Shutterfly, No. 67 in the Internet Retailer Top 500 Guide, reported:
- Annual sales were $307.7 million, up by 24.9% from $246.4 million in 2009.
- Net income increased 35.4% to $32.5 million from $24 million in 2009.
- Average ticket was $32.88.
- The total number of orders was 9.2 million.
“Our strategic investments throughout 2010, combined with our focus on strong execution, innovation and improved efficiencies, led to record revenues, profits, and free cash flows,” says CEO Jeffrey Housenbold. “With the social expression and personal publishing markets still in the early stages, Shutterfly will focus on extending our leadership position in these large markets throughout 2011.”
For the fourth quarter, Shutterfly reported:
- Sales of $166.2 million, a 26.9% increase from $131 million in the prior year period.
- Net income increased 194.8% to $17.1 million from $5.8 million in 2009.
Shutterfly projects Q1 sales to range from $52 million to $53 million and full-year revenue from $363 million to $373 million.