Revenue grew, but Shutterfly’s Q3 net loss also widened
For the third quarter ended Sept. 30, online photo services retailer Shutterfly reported a 12.8% increase in sales. Net loss increased year over year to $6.3 million from $2.8 million.
Online photo services retailer Shutterfly Inc. posted another quarter of top-line growth, but also a bigger net loss.
For the third quarter ended Sept. 30, Shutterfly, No. 69 in the Internet Retailer Top 500 Guide, reported:
- Sales increased 12.8% to $40.5 million from $35.9 million.
- Net loss increased year over year to $6.3 million from $2.8 million.
- Orders totaled 1.7 million in the third quarter, a 3% increase over the third quarter of 2008.
- Average order value in the third quarter was $23.03, a 6% increase over Q3 2008.
"Shutterfly delivered very solid third quarter results with better-than-expected revenue growth, despite an increasingly tough macroeconomic environment," says president and CEO Jeffrey Housenbold. "During the quarter we launched the innovative Simple Path photo book creation experience, enhanced our cards and stationery offering and acquired Tiny Pictures. We also made strong progress on our commercial printing initiative and prepared our manufacturing facilities in Charlotte and Phoenix for the seasonally busy fourth quarter."
For the first three quarters, Shutterly also reported:
- Sales increased 9.2% to $115.4 million from $105.7 million.
- Net loss increased year over year to $18.2 million from $10.7 million.
For the fourth quarter and the full year, Shutterfly expects revenue to range from $102.6 million to $112.6 million and $218.0 million to $228.0 million, respectively.