Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
However, its profits fell nearly 7%.
Vistaprint NV, an online retailer of custom printing and related services to consumers and small business, generated a 28% increase in revenue to $299.9 million in its second quarter, but saw its net income decrease from a year ago.
For the quarter ended Dec. 31, Vistaprint, No. 36 in the Internet Retailer Top 500 Guide reported:
- Total sales were $299.9 million, up 28.1% from $234.1 million in the prior year.
- Net income was $31.7 million, a 6.8% decrease from $34.0 million in the second quarter of fiscal 2011.
- Vistaprint acquired 2.9 million new customers in the quarter, compared with 2.2 million in the second quarter of 2011.
- Average order value, including revenue from shipping and processing, was $34.61, compared with $36.17 in the same quarter a year ago.
- Order volume at 8.3 million was a 27.7% increase from the 6.5 million orders in the prior year.
For the first half of its fiscal year:
- Total sales were $512.2 million, a 26.6% increase from $404.6 million for the first half of its prior fiscal year.
- Net income was $39.9 million, an 11.0% decrease from $44.8 million a year ago.
A couple of acquisitions made in the second quarter contributed to Vistaprint’s dip in profits, says Ernst Teunissen, executive vice president and chief financial officer. “The tick up there has been because of the various transaction expenses that we have,” he said during a call with analysts. In December, Vistaprint announced it was buying Webs Inc., a company that offers templates and other do-it-yourself design services small businesses can use to create e-commerce, mobile commerce, and social media sites. And in October it announced it was buying Albumprinter, a company based in the Netherlands that sells photo books and products.