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Net income dipped 29% for the custom printing company.
Vistaprint NV, an international web-only retailer of printing and related services to small businesses and consumers, grew sales in the second quarter but net income fell.
For the second quarter ended Dec. 31, Vistaprint, No. 35 in Internet Retailer’s 2012 Top 500 Guide, reported:
- Revenue of $348.3 million, a 16.1% increase from $299.9 million in the second quarter of 2012. Total sales include revenue from Albumprinter, a Dutch company that sells photo books and products, and Webs, a web site services provider. Both were acquired in 2011.
- Net income of $22.6 million, a decrease of 28.7% from $31.7 million.
- New customer orders of 3.2 million, up by 10.3% from 2.9 million in Q2 2012.
- Total orders were 9.0 million, an 8.4% increase from 8.3 million.
- Average order value of $36.25, up by 4.7% compared with $34.61.
“Net income declined due to several year-over-year differences in below-the-line
items, including interest expense, other income, our tax provision, and the effect of our new indirect minority equity interest in China,” the company says. In July Vistaprint acquired an equity interest in Namex Ltd. and its related companies including a Chinese printing business.
For the first six months, Vistaprint reported:
- Total sales of $599.7 million, a 17.1% increase from $512.2 million in the first half of 2012.
- Net income of $21.3 million, down by 46.8% from $40.0 million.
- New orders were 5.4 million, a 12.5% increase from 4.8 million
- Average order value of $73.03, up by 2.9% from $70.99 in the first six months of 2012.