VistaPrint Misses on the Bottom Line, in Line at the Top
Professional marketing services specialist VistaPrint reported fiscal 2014 first-quarter results after the markets closed today, posting total revenues of $275.1 million, a 9.4% gain from the $251.4 million in the same period of the previous year and pretty much in-line with the $273.7 million Capital IQ consensus estimates.
Adjusted net income was $11.3 million, or $0.32 per share, up 26 % from $8.9 million, or $0.25 per share, in Q1 2013, but $0.06 per share below the CapIQ estimate of $0.38.
VistaPrint's GAAP earnings were negatively affected by unrealized non-cash losses of $4.9 million on currency hedges that weren't designated for hedge accounting. Regardless, the marketer doesn't expect the hedging activity to have a material impact on earnings for the full year relative to its previous guidance for fiscal 2014.
Now offered on an annual basis, VistaPrint's guidance anticipates revenue of between $1.25 billion and $1.3 billion, a narrower range than its previous range of $1.235 billion to $1.285 billion, but also in line with estimates. It also expects per share GAAP net income of between $1.35 and $1.70, the same range as it previously announced.
VistaPrint's stock closed the day up 2.2%, or $1.17, to $54.76.
The article VistaPrint Misses on the Bottom Line, in Line at the Top originally appeared on Fool.com.
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