Shutterfly Reports Strong First Quarter Financial Results

- Average order value was $26.43, a 10% increase over the first quarter of 2009.

Business Outlook

The Company's current financial expectations for the second quarter and the full year 2010 are as follows:

Second Quarter 2010:

- Net revenues to range from $43.5 million to $45.5 million, a year-over-year change of 12% to 17%.