Vistaprint Beats on Earnings - Analyst Blog
29 Abril 2013 - 6:29AM
Zacks
Vistaprint N.V (VPRT), an online provider of
professional marketing products and services, reported a net income
of $5.9 million or 17 cents per share in third quarter fiscal 2013
(ending Mar 31, 2013) compared to $0.3 million or 1 cent in the
year-earlier quarter. The increase in earnings was driven by low
advertising and operating expenses.
Excluding one-time items, adjusted earnings were $16.9 million or
48 cents per share compared to $11.2 million or 29 cents in the
year-ago quarter. The quarterly adjusted earnings were well above
the Zacks Consensus Estimate of 9 cents.
Total revenue increased 12% year over year to $287.7 million in
third quarter 2013. The reported earnings missed the Zacks
Consensus Estimate of $289 million.
Geographically, revenues was up 15% year over year in North
America, followed up with Europe (up 8%) and Most of world
(up 6%) year over year in the reported quarter.
In the reported quarter, gross margin was flat year over year at
65.5%. Operating income increased to $9.7 million from $7.8 million
in the prior-year quarter.
Balance Sheet & Cash Flow
The company exited the quarter with $51.3 million in cash and cash
equivalents. Debt stood at $238.5 million, with $237.3 million
available under its credit facility. Vistaprint purchased 410,400
shares for $16.2 million in the quarter under its existing share
repurchase program.
Subsequent to the end of the quarter, the company purchased an
additional 493,700 shares for $18.7 million,
The company generated $8.1 million in cash from operations with
capital expenditure of $11.2 million
Outlook
For the fourth quarter of fiscal 2013, the company expects revenues
in the range of of $263 million to $278 million. Fiscal 2013
revenues are expected in the range of $1,150 million – $1,165
million with GAAP earnings in the range of 60 cents–80 cents per
share. Adjusted earnings for full fiscal are expected in the range
of $1.94–$2.14 per share with capital expenditures of $85 million
to $95 million.
Vistaprint remains focused on leveraging its investment and expect
meaningful earnings growth and margin expansion in fiscal year
2014.
Vistaprint currently has a Zacks Rank #3 (Hold). Other stocks that
look promising and are worth considering in the industry are
Automatic Data Processing, Inc (ADP),
Barrett Business Services Inc (BBSI) and
Genpact Ltd (G), each carrying a Zacks Rank #2
(Buy).
AUTOMATIC DATA (ADP): Free Stock Analysis Report
BARRETT BUS SVS (BBSI): Free Stock Analysis Report
GENPACT LTD (G): Free Stock Analysis Report
VISTAPRINT NV (VPRT): Free Stock Analysis Report
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