Vistaprint Q1 2014 Revenues Up 9 Percent

VENLO, THE NETHERLANDS—Vistaprint N.V., an online provider of professional marketing products and services to micro businesses and the home, announced financial results for the three month period ended Sept. 30, the first quarter of its 2014 fiscal year.

“Our first quarter revenue results were consistent with our expectations across all geographic regions, and we continued to make good progress against our strategic initiatives,” said Robert Keane, president and CEO. “Our operating profitability this quarter was also in line with our expectations. With the first quarter behind us, we are focused on delivering against our holiday expectations during our second quarter, as well as continued improvement of our customer value proposition globally and our marketing execution in Europe.”

Revenue for the first quarter of fiscal year 2014 grew to $275.1 million, a 9 percent increase over revenue of $251.4 million reported in the same quarter a year ago. Excluding the estimated impact from currency exchange rate fluctuations, total revenue also grew 9 percent year-over-year in the first quarter.

Gross margin (revenue minus the cost of revenue as a percent of total revenue) in the first quarter was 65.2 percent, up from 65.0 percent in the same quarter a year ago. Operating income in the first quarter was $8.4 million, or 3.1 percent of revenue, and reflected an increase compared to operating income of $0.2 million, or 0.1 percent of revenue, in the same quarter a year ago. Capital expenditures in the first quarter were $17.6 million.