Back to top

Analyst Blog

Vistaprint N.V (VPRT - Analyst Report) reported a net income of $2.3 million or 7 cents per share in fourth quarter fiscal 2013 (ending Jun 30, 2013) compared with $3.9 million or 10 cents in the year-earlier quarter. The quarterly earnings were in line with the Zacks Consensus Estimate.

For fiscal 2013, Vistaprint reported a net income of $29.4 million or 85 cents per share compared with $44.0 million or $1.13 in the year-earlier quarter. The fiscal earnings beat the Zacks Consensus Estimate of 63 cents. Strategic investments, acquisitions, minority investment in China and higher share-based compensation expense dragged the earnings lower.

Excluding one-time items, adjusted earnings were $14.1 million or 41 cents per share in the reported quarter compared with $14.9 million or 40 cents in the year-ago quarter.

For fiscal 2013, adjusted earnings were $75.8 million or $2.15 per share compared with $77.0 million or $1.95 a share in the year-ago quarter.
 
Total revenue in fourth quarter fiscal 2013 increased 12% year over year to $280.1 million. The reported revenues beat the Zacks Consensus Estimate of $272 million.

For fiscal 2013, revenues increased to $1,167.5 million, up 14.0% year over year. Full year revenues also beat the Zacks Consensus Estimate of $1,156 million.

Geographically, fiscal revenues were up 18% year over year in North America, followed by Europe (up 3%) and Asia Pacific (up 4%).

In the reported quarter, gross margin was flat year over year at 64.6%. Operating income increased to $3.1 million from $5.1 million in the year-ago period.

Balance Sheet & Cash Flow

The company exited the quarter with $50.1 million in cash and cash equivalents versus $62.2 million in the year-ago period. Long-term debt stood at $238.8 million with $228.6 million available under its credit facility. Vistaprint purchased 613,000 shares for $23.4 million in the quarter under its existing share repurchase program.

The company generated $37 million in cash from operations and $21.8 million in free cash flow with capital expenditure of $12.5 million.

Outlook

For fiscal 2014, the company expects revenues in the range of $1,235 million to $1,285 million. Fiscal 2014 GAAP earnings is expected in the range of $1.35 –$1.70 per share. Adjusted earnings for full fiscal are expected in the range of $2.49–$2.83 per share with capital expenditures of $85 million to $100 million.

Vistaprint remains focused on leveraging its investments and expect meaningful earnings growth and expansion in fiscal year 2014 with a ramp-up in profitability of its organic business.

Vistaprint currently has a Zacks Rank #3 (Hold). Other stocks that look promising in the industry and are worth a look include Barrett Business Services Inc. (BBSI - Snapshot Report), Cap Gemini S.A. and Portfolio Recovery Associates Inc (PRAA - Analyst Report), each carrying a Zacks Rank #1 (Strong Buy).

 

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
RPC INC RES 24.91 +8.35%
LITHIA MOTO… LAD 94.59 +4.60%
DELTA AIR L… DAL 39.15 +3.90%
FLAMEL TECH… FLML 14.51 +3.50%
SOUTHWEST A… LUV 28.87 +2.92%