Vistaprint Reports Double-Digit Increases, but European Business Lags

Total order volume in the fourth quarter of fiscal 2012 was approximately 6.4 million, reflecting an increase of approximately 14 percent over total orders of approximately 5.6 million in the same quarter a year ago.

Average order value in the fourth quarter including revenue from shipping and processing was $36.73, compared to $37.72 in the same quarter a year ago.

Vistaprint acts as a wholesaler to certain retail firms, providing white label solutions for online and/or in-store sales of select Vistaprint products. In the fourth quarter and fiscal year, these partnerships increased the growth of new customers, unique active customers, and order volume, and decreased average order value and advertising as a percent of revenue.

Revenue from customers in North America totaled $143.4 million, or 57 percent of total revenue, in the fourth quarter. This represents 20 percent growth year over year in reported terms and 21 percent growth year over year in constant currency.

For the full fiscal year, revenue from customers in North America was $543.9 million, or 53 percent of total revenue, representing 20 percent growth year over year in both reported terms and in constant currency.

Revenue from customers in Europe totaled $92.0 million or 37 percent of total revenue in the quarter. This represents 18 percent growth year over year in reported terms and 30 percent growth in constant currency. For the full fiscal year, revenue from customers in Europe was $415.2 million, or 41 percent of total revenue, representing 29 percent growth year over year in reported terms and 31 percent growth in constant currency.

Revenue from customers in Asia Pacific was $15.1 million, or 6 percent of total revenue in the fourth quarter. This represents 28 percent growth year over year in reported terms and 33 percent growth in constant currency.

For the full fiscal year, revenue from customers in Asia Pacific was $61.2 million, or 6 percent of total revenue for the fiscal year. This represents 44 percent growth year over year in reported terms and 38 percent growth year over year in constant currency.

Fiscal 2013 Outlook as of July 26, 2012