Vistaprint Q3 Profit Rises, Lifts FY11 Outlook
• Advertising and commissions expense was $43.4 million, or 21.3 percent of revenue in the third quarter, compared to $33.2 million, or 20.0 percent of revenue in the same quarter a year ago.
• The U.S. market contributed 54 percent of total revenue in the third fiscal quarter, down from 55 percent in the same quarter a year ago, representing a 19 percent increase in revenue year over year. Non-U.S. markets contributed 46 percent of total revenue in the third quarter, up from 45 percent in the same quarter a year ago, representing a 27 percent increase in revenue year over year and 25 percent in constant currency.
• North American, European and Asia-Pacific revenue contributions in the third quarter of the fiscal year 2011 were 57, 38, and 5 percent of total revenue, respectively.
• Average order value in the third quarter, including revenue from shipping and processing, was $36.03, compared with $34.79 in the same quarter a year ago.
• Website sessions in the third quarter were 79.4 million, a 3 percent decrease from 81.9 million in the same quarter a year ago.
• Conversion rates were 7.3 percent in the third quarter of fiscal 2011, compared to 5.9 percent in the same quarter a year ago.
"With three quarters of good execution behind us, we believe that we will deliver stronger than previously anticipated revenue and earnings results for the full fiscal year," said Ernst Teunissen, chief financial officer. "Therefore, we are raising our fiscal 2011 revenue and earnings guidance to reflect our recent performance and outlook for the fourth quarter. Our guidance factors in our plan to make additional investments in the fourth quarter to drive longer-term growth that are in line with our well-established financial strategy of targeting annual, not quarterly, EPS objectives."