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Cimpress (CMPR) Q3 Earnings Miss Estimates, Revenues Beat
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Cimpress plc (CMPR - Free Report) reported mixed third-quarter fiscal 2021 results, wherein earnings missed the Zacks Consensus Estimate, but revenues beat the same.
The company reported an adjusted loss of $1.50 per share, wider than the Zacks Consensus Estimate of a loss of 53 cents by 183%. Moreover, the bottom line declined from the year-ago quarter’s earnings of 61 cents per share.
Top-Line Details
Total revenues in the fiscal third quarter were $578.9 million compared with $598 million in the year-ago quarter. However, the top line surpassed the consensus estimate of $527 million by 15.8%.
Segmental Information
The National Pen segment generated revenues of $62.2 million, down from $68.4 million in the prior-year quarter. Vistaprint — the largest revenue generating segment of the company — reported aggregate revenues of $327.5 million, up from $316.3 million in the year-ago quarter.
The Upload and Print segment’s revenues fell to $153.7 million from $177.8 million in the year-ago quarter. The segment consists of two subgroups — PrintBrothers and The Print Group. PrintBrothers’ revenues fell to $94 million from $109.5 million in the prior-year quarter. The Print Group generated revenues of $59.9 million, down from $68.5 million. Meanwhile, revenues from All Other Businesses increased to $44.1 million from $39.2 million.
Margin Details
In the quarter, Cimpress' cost of revenues was $302 million, down 2.5% on a year-over-year basis. It represented 52.2% of total revenues. Total selling, general & administrative expenses were $216.9 million, up 11.9% on a year-over-year basis. It represented 37.5% of total revenues in the fiscal third quarter.
Gross profit declined 4% year over year to $276.8 million with margin at 47.8%, down 40 basis points. Net interest expenses surged 67.6% to $29 million.
Balance Sheet and Cash Flow
As of Mar 31, 2021, Cimpress had $36.4 million in cash and cash equivalents compared with $228.3 million at the end of year-ago quarter. Also, the company’s total debt (net of issuance costs) was $1,341.2 million, down from $1,671.6 million. In the fiscal third quarter, Cimpress refrained from buying back shares.
In first nine months of fiscal 2021, net cash provided by operating activities was $218.9 million compared with $284.1 million in the year-ago period.
Outlook
Due to uncertainties regarding the impact of the coronavirus outbreak on financial and operating results, the company has not provided earnings and revenue projections for the fourth quarter and fiscal 2021.
Alcoa delivered a positive earnings surprise of 56.78%, on average, in the trailing four quarters.
Lakeland Industries delivered a positive earnings surprise of 230.73%, on average, in the trailing four quarters.
Energy Recovery delivered a positive earnings surprise of 232.08%, on average, in the trailing four quarters.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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Cimpress (CMPR) Q3 Earnings Miss Estimates, Revenues Beat
Cimpress plc (CMPR - Free Report) reported mixed third-quarter fiscal 2021 results, wherein earnings missed the Zacks Consensus Estimate, but revenues beat the same.
The company reported an adjusted loss of $1.50 per share, wider than the Zacks Consensus Estimate of a loss of 53 cents by 183%. Moreover, the bottom line declined from the year-ago quarter’s earnings of 61 cents per share.
Top-Line Details
Total revenues in the fiscal third quarter were $578.9 million compared with $598 million in the year-ago quarter. However, the top line surpassed the consensus estimate of $527 million by 15.8%.
Segmental Information
The National Pen segment generated revenues of $62.2 million, down from $68.4 million in the prior-year quarter. Vistaprint — the largest revenue generating segment of the company — reported aggregate revenues of $327.5 million, up from $316.3 million in the year-ago quarter.
The Upload and Print segment’s revenues fell to $153.7 million from $177.8 million in the year-ago quarter. The segment consists of two subgroups — PrintBrothers and The Print Group. PrintBrothers’ revenues fell to $94 million from $109.5 million in the prior-year quarter. The Print Group generated revenues of $59.9 million, down from $68.5 million. Meanwhile, revenues from All Other Businesses increased to $44.1 million from $39.2 million.
Margin Details
In the quarter, Cimpress' cost of revenues was $302 million, down 2.5% on a year-over-year basis. It represented 52.2% of total revenues. Total selling, general & administrative expenses were $216.9 million, up 11.9% on a year-over-year basis. It represented 37.5% of total revenues in the fiscal third quarter.
Gross profit declined 4% year over year to $276.8 million with margin at 47.8%, down 40 basis points. Net interest expenses surged 67.6% to $29 million.
Balance Sheet and Cash Flow
As of Mar 31, 2021, Cimpress had $36.4 million in cash and cash equivalents compared with $228.3 million at the end of year-ago quarter. Also, the company’s total debt (net of issuance costs) was $1,341.2 million, down from $1,671.6 million. In the fiscal third quarter, Cimpress refrained from buying back shares.
In first nine months of fiscal 2021, net cash provided by operating activities was $218.9 million compared with $284.1 million in the year-ago period.
Outlook
Due to uncertainties regarding the impact of the coronavirus outbreak on financial and operating results, the company has not provided earnings and revenue projections for the fourth quarter and fiscal 2021.
Cimpress plc Price, Consensus and EPS Surprise
Cimpress plc price-consensus-eps-surprise-chart | Cimpress plc Quote
Zacks Rank & Stocks to Consider
The company currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks are Alcoa Corporation (AA - Free Report) , Lakeland Industries, Inc. (LAKE - Free Report) and Energy Recovery, Inc. (ERII - Free Report) . While Alcoa and Lakeland Industries currently sport a Zacks Rank #1 (Strong Buy), Energy Recovery carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Alcoa delivered a positive earnings surprise of 56.78%, on average, in the trailing four quarters.
Lakeland Industries delivered a positive earnings surprise of 230.73%, on average, in the trailing four quarters.
Energy Recovery delivered a positive earnings surprise of 232.08%, on average, in the trailing four quarters.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>