Vistaprint Again Reports Double-Digital Gains
During the second quarter, the company generated $73.9 million in cash from operations and $61.6 million in free cash flow, defined as cash from operations less purchases of property, plant and equipment, purchases of intangible assets, and capitalization of software and Website development costs.
The company had $177.6 million in cash, cash equivalents, and short-term marketable securities as of Dec. 31, 2010.
Vistaprint acquired approximately 2.2 million new customers in the second fiscal quarter ended Dec. 31, 2010, compared with 1.8 million in the same quarter a year ago.
Repeat customers generated approximately 67 percent of total quarterly bookings in the second quarter, compared with 66 percent in the same quarter a year ago.
Average daily order volume in the second quarter of fiscal year 2011 was approximately 71,000, reflecting an increase of approximately 25 percent over an average of approximately 57,000 orders per day in the same quarter a year ago.
Advertising and commissions expense was $52.2 million, or 22.3 percent of revenue in the second quarter, compared to $39.4 million, or 20.2 percent of revenue in the same quarter a year ago.
The U.S. market contributed 47 percent of total revenue in the second quarter, down from 49 percent in the same quarter a year ago, representing a 15 percent increase in revenue year over year. Non-U.S. markets contributed 53 percent of total revenue in the second quarter, up from 51 percent in the same quarter a year ago, representing a 26 percent increase in revenue year over year and 32 percent in constant currency.
North American, European and Asia-Pacific revenue contributions in the second quarter of the fiscal year 2011 were 50, 45, and 5 percent of total revenue, respectively.
Average order value in the second quarter, including revenue from shipping and processing, was $36.17, compared with $36.63 in the same quarter a year ago.