Vistaprint Takes Income Hit on Double-Digit Revenue Gain in Printing Services

Operating Metrics (exclude Albumprinter and Webs results unless otherwise stated):

Vistaprint acquired approximately 2.4 million new customers in the third fiscal quarter ended March 31, 2012, compared with 1.8 million in the same quarter a year ago, reflecting an increase of 33 percent.
On a trailing 12-month basis, unique active customer count was 13.8 million. This compares to 11.1 million in the 12-month period ended March 31, 2011.
Total order volume in the third quarter of fiscal 2012 was approximately 7.0 million, reflecting an increase of approximately 21 percent over total orders of approximately 5.8 million in the same quarter a year ago.
Average order value in the third quarter, including revenue from shipping and processing, was $35.38, compared with $36.03 in the same quarter a year ago.

Organizational Announcement
Vistaprint also announced today that Wendy Cebula, chief operating officer, has decided to step down from that role effective July 1, 2012, to assume an ongoing role in Vistaprint’s executive development group. After 12 years of success as a leader of Vistaprint, Cebula chose to make this career move in order to spend more time with her family.

Robert Keane commented, “Wendy has built a deep and broad cadre of leaders who have a proven ability to execute against our strategy. Given this demonstrated strength in developing leaders, I am very glad that, even as she devotes more time to home and family life, Wendy will remain an active mentor to managers and executives throughout our business.”

Cebula’s responsibility for revenue performance across North America and Europe will be assumed by Trynka Shineman (Katryn Blake), currently chief customer officer and president of Vistaprint North America. Shineman’s new title, effective July 1, 2012, will be chief customer officer and executive vice president, Global Marketing.

Concurrently, Nick Ruotolo, president of Vistaprint Europe, has decided to leave the company to pursue other opportunities, also effective July 1.

Keane said, “Nick has been instrumental in helping to grow our European business unit from its early stages of development several years ago to its current size and significance. I want to thank Nick for his many contributions to our success in Europe and to Vistaprint in general.”

Outlook as of April 26, 2012
Ernst Teunissen, executive vice president and chief financial officer, reported, “With just one quarter left in fiscal 2012, we are confident we will meet or exceed our financial expectations for the full year. We are updating our guidance for fiscal 2012 to reflect certain items.

“First, currency rates have moved favorably since we last gave guidance in January 2012, which primarily impacts our revenue guidance in U.S. dollars. Second, our GAAP earnings outlook has improved slightly based on better than expected below-the-line results from our acquired businesses. As a result, we are narrowing our revenue guidance range and raising the midpoint, and raising our GAAP EPS guidance range by $0.06. The non-GAAP earnings expectations remain the same, as our upside is in items that are excluded from non-GAAP results,” Teunissen said.

About Vistaprint
Vistaprint N.V. (Nasdaq:VPRT) empowers more than 13 million micro businesses and consumers annually with affordable, professional options to make an impression. With a unique business model supported by proprietary technologies, high-volume production facilities, and direct marketing expertise, Vistaprint offers a wide variety of products and services that micro businesses can use to expand their business. A global company, Vistaprint employs over 3,600 people, operates more than 25 localized websites globally and ships to more than 130 countries around the world.