Shutterfly Reports Strong First Quarter Financial Results

First Quarter 2010 Financial Highlights

- Net revenues totaled $45.7 million, a 27% year-over-year increase.

- First quarter 2010 represents the 37th consecutive quarter of year-over-year net revenue growth.

- Personalized Products & Services net revenues totaled $30.5 million, a 43% year-over-year increase.