Vistaprint Reports Q1 FY 2015 Year-Over-Year Revenue Growth of 21 Percent, to $333.9M

Fiscal 2015 Outlook as of October 29, 2014:
Ernst Teunissen, executive vice president and CFO, said, "Our operational outlook for the full year remains unchanged. We continue to expect mid-to-high single-digit constant-currency revenue growth rates for the Vistaprint brand and double-digit revenue growth for our recently acquired brands. We also continue to expect higher operating margin, earnings, operating cash flow and free cash flow for fiscal 2015 versus fiscal 2014 even as we make important investments in our business. We have updated our revenue guidance to reflect recent currency movements since we last provided our outlook in July, but our constant currency growth expectations remain the same. Our non-GAAP EPS guidance is unchanged, as these currency movements are expected to have limited impact on the bottom line. We have increased our GAAP EPS guidance to reflect a few non-operational impacts from the first quarter change in items we exclude from its non-GAAP reporting."

Financial Guidance as of October 29, 2014:
The company provides revenue and earnings guidance on only a fiscal year basis, not quarterly. Its guidance incorporates completed acquisitions and share repurchases, and outstanding debt obligations, as of Oct. 29, 2014. Based on current and anticipated levels of demand, the company expects the following financial results:

Fiscal Year 2015 Revenue

• The company expects revenue of approximately $1,430 million to $1,500 million, or 13 percent to 18 percent growth year over year in reported terms and 15 percent to 20 percent growth on a constant-currency basis. Constant-currency growth expectations assume a recent 30-day currency exchange rate for all currencies.

Fiscal Year 2015 GAAP Net Income Per Diluted Share

• The company expects GAAP net income per diluted share of approximately $2.24 to $2.74, which assumes 33.3 million weighted average diluted shares outstanding. Based on a recent 30-day currency exchange rate for relevant currencies, we estimate that realized gains and losses on currency forward contracts, as well as natural hedges will largely offset the currency impact to revenue in its full-year net income results.

Fiscal Year 2015 Non-GAAP Adjusted Net Income Per Diluted Share