BWW Geeks World

Photos Are Still Hot - Shutterfly Revenues Up 35% in 2012

Related: News
Photos Are Still Hot - Shutterfly Revenues Up 35% in 2012

Shutterfly, Inc. the leading manufacturer and digital retailer of high-quality personalized products and services offered through a family of lifestyle brands, today announced financial results for the fourth quarter and full year-ended December 31, 2012.

"Our unwavering commitment to innovation, outstanding product quality, stylish designs, exceptional customer service and overall value, combined with our focus on strong execution led to another year of record revenues, adjusted EBITDA, and free cash flows," said President and Chief Executive Officer Jeffrey Housenbold. "Our singular focus on addressing the ever increasing challenges that consumers face as they try to do more with their photos and memories, has enabled Shutterfly to emerge as the market leader. We remain confident in our strategy and in the early and large markets in which we operate."

Fourth Quarter 2012 Financial Highlights

  • Net revenues totaled $351.8 million, a 33% year-over-year increase, and the 48th consecutive quarter of year-over-year net revenue growth.
  • Consumer net revenues totaled $343.5 million, a 33% year-over-year increase.
  • Enterprise net revenues totaled $8.3 million, a 79% year-over-year increase.
  • Gross profit margin was 60.5% of net revenues, compared to 58.9% in the fourth quarter of 2011.
  • Operating expenses, excluding $9.4 million of stock-based compensation, totaled $102.0 million.
  • GAAP net income was $53.0 million, compared to $35.4 million in the fourth quarter of 2011.
  • GAAP net income per diluted share was $1.40, compared to $0.97 in the fourth quarter of 2011.
  • Adjusted EBITDA was $127.2 million, compared to $89.3 million in the fourth quarter of 2011.
  • At December 31, 2012, cash and cash equivalents totaled $245.1 million.

Full Year 2012 Financial Highlights

  • Net revenues totaled $640.6 million, a 35% year-over-year increase.
  • Consumer net revenues totaled $613.4 million, a 33% year-over-year increase.
  • Enterprise net revenues totaled $27.2 million, a 101% year-over-year increase.
  • Gross profit margin was 54.0% of net revenues, compared to 53.6% in 2011.
  • Operating expenses, excluding $35.6 million of stock-based compensation, totaled $269.4 million.
  • GAAP net income was $23.0 million, compared to $14.0 million in 2011.
  • GAAP net income per diluted share was $0.61, compared to $0.40 in 2011.
  • Adjusted EBITDA was $128.1 million, compared to $83.7 million in 2011.

Fourth Quarter 2012 Consumer Metrics

GEEKS VIDEOS

STAGE TUBE: First Look at Second Episode of Telltale's GAME OF THRONESSTAGE TUBE: First Look at Second Episode of Telltale's GAME OF THRONES VIDEO: Watch President Obama's 2015 State of the Union Speech - LIVE!VIDEO: Watch President Obama's 2015 State of the Union Speech - LIVE! Video: YouTube Stars to Interview President Obama - And You Can Too!Video: YouTube Stars to Interview President Obama - And You Can Too! VIDEO: ELLEN Responds to Accusations of Having 'Gay Agenda'VIDEO: ELLEN Responds to Accusations of Having 'Gay Agenda' VIDEO: Google Jumping More into Education with Google ClassroomVIDEO: Google Jumping More into Education with Google Classroom VIDEO: Nintendo Shows Off New Nintendo 3DS XLVIDEO: Nintendo Shows Off New Nintendo 3DS XL VIDEO: Space Ship? No. D-Link Unveils ULTRA Performance Series of 11AC RoutersVIDEO: Space Ship? No. D-Link Unveils ULTRA Performance Series of 11AC Routers Video: D-Link Launches Industry's First Gigabit PowerLine Kits with MIMOVideo: D-Link Launches Industry's First Gigabit PowerLine Kits with MIMO VIDEO: LaCie Unveils Mirror Portable Hard Drive; Encased in Glass & Designed for LooksVIDEO: LaCie Unveils Mirror Portable Hard Drive; Encased in Glass & Designed for Looks VIDEO: Sneak Peek at the Angry Birds Christmas Special SANTAMENTAL MEVIDEO: Sneak Peek at the Angry Birds Christmas Special SANTAMENTAL ME STAGE TUBE: Samsung Canada Celebrates Launch of the NX1 with Short Film Starring Joseph Gordon LevittSTAGE TUBE: Samsung Canada Celebrates Launch of the NX1 with Short Film Starring Joseph Gordon Levitt VIDEO: Aidy Bryant Reaches 10,000 Tweets from Cut Sketch from Last Week's SNL; Watch Below!VIDEO: Aidy Bryant Reaches 10,000 Tweets from Cut Sketch from Last Week's SNL; Watch Below! Fully Restored Video: Craigslist 1996 Nissan Maxima CompletedFully Restored Video: Craigslist 1996 Nissan Maxima Completed VIDEO: CONAN Meets Digitzed Kevin Spacey in 'Call Of Duty: Advanced Warfare'VIDEO: CONAN Meets Digitzed Kevin Spacey in 'Call Of Duty: Advanced Warfare' VIDEO: It's Here! Starwood's Keyless Entry Launches Today!VIDEO: It's Here! Starwood's Keyless Entry Launches Today! New Video: Immigration Enforcement Needed to Counter Criminal and Terrorist ThreatsNew Video: Immigration Enforcement Needed to Counter Criminal and Terrorist Threats

Subscribe for News & Specials