Shutterfly Reports Strong First Quarter Financial Results

- GAAP gross profit margins to range from 45% to 47% of net revenues.

- Non-GAAP gross profit margins to range from 47% to 49% of net revenues.

- GAAP operating loss to range from ($13) million to ($14) million.

- Non-GAAP operating loss to range from ($8) million to ($9) million.

Full Year 2010:

- Net revenues to range from $275 million to $285 million, a year-over-year change of 12% to 16%.