Vistaprint Reports Big Income Hit, but Revenue Increase

• Operating income in the first quarter was $0.2 million, or 0.1 percent of revenue, and reflected a 98 percent decrease compared to operating income of $9.7 million, or 4.6 percent of revenue, in the same quarter a year ago. This result was in line with our expectations.

• Gross margin (revenue minus the cost of revenue as a percent of total revenue) in the first quarter was 65.0 percent, compared to 63.2 percent in the same quarter a year ago.