Shutterfly Reports Double-Digit Gains in All Services
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• Existing customers generated 73 percent of total net revenues.
• Gross profit margin was 56 percent of net revenues, compared to 55 percent in 2009.
• Operating expenses, excluding $15.9 million of stock-based compensation, totaled $132.6 million.
• GAAP net income was $17.1 million, compared to $5.9 million in 2009.
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