HAMILTON, Bermuda, April 29, 2008 -- VistaPrint Limited, the small business marketing company, today announced its financial results for the three month period ended March 31, 2008, the third quarter of its 2008 fiscal year.
Revenue for the third quarter of fiscal year 2008 was $105.8 million, an increase of 53 percent when compared to revenue of $69.3 million in the same quarter of fiscal year 2007.
Net income on a GAAP basis for the third quarter of fiscal year 2008 was $11.5 million, which was 10.8 percent of revenue and $0.25 per share on a fully diluted basis. In the same quarter of fiscal year 2007, the Company achieved net income on a GAAP basis of $7.4 million, which was 10.6 percent of revenue and $0.16 per share on a fully diluted basis.
On a non-GAAP basis, excluding share-based compensation expense, adjusted net income for the third quarter of fiscal 2008 was $15.0 million, 14.2 percent of revenue, and $0.32 per fully diluted share. During the same quarter of the prior fiscal year, non-GAAP adjusted net income, excluding share-based compensation expense, was $9.3 million, 13.4 percent of revenue, and $0.20 per fully diluted share.
"VistaPrint delivered an outstanding third quarter," said Robert Keane, president and chief executive officer. "Our growth investments continue to drive our results and have positioned us for ongoing success. We rolled out a line of signage products and just introduced small business websites, both of which we are bringing to market with significant competitive advantages." Continuing, Mr. Keane stated, "These growth investments have allowed us to create a superior value proposition and we continue to reinvest to enhance that value proposition and our competitiveness."
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.