In its 2012 second quarter financial results, Vistaprint reported a 41 per cent jump in revenue for its Asia Pacific operations to US$17m, up from US$12m the year before.
Commenting on the result, Robert Keane, president and CEO of the international print and marketing giant says the results reflect momentum in the company’s strategy initiatives and investment in resources, which he expects will lead to future growth.
Keane says, “Revenue was in the upper half of our guidance range due to strong sales of holiday and small business products during our seasonally strongest quarter of the year.
Earnings per share excluding gains from our recent share repurchase activity exceeded our expectations due to a favourable non-operational foreign currency benefit, favourability in our tax rate, the timing of some planned operating expenses, and gross margin improvements.
Vistaprint’s overall revenue for the second quarter of fiscal year 2012 grew to $US299.9m, a 28 per cent increase on the $US234.1m reported in the same quarter a year ago.
During the second quarter, the company generated $US81.1m in cash from operations and $US66.4m in free cash flow, defined as cash from operations less purchases of property, plant and equipment, purchases of intangible assets not related to acquisitions, and capitalization of software and website development costs.
Keane adds, “We were able to deliver these great results in the organic business while negotiating, performing due diligence, carrying out closing activities and planning integration activities for two acquisitions.”
The company had $US67.5m in cash and cash equivalents as of December 31, 2011.
