This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CafePress Reports First Quarter 2013 Results

LOUISVILLE, Ky., May 2, 2013 (GLOBE NEWSWIRE) -- CafePress Inc. (Nasdaq:PRSS), The World's Customization Engine ®, today reported financial results for the three months ended March 31, 2013.

"CafePress posted a strong first quarter with robust year-over-year net revenue growth of 32%," said Chief Executive Officer Bob Marino. "We experienced strong demand for customized products across all of our businesses and particularly strong growth in our e-commerce activities for strategic partners and corporate shops. Our manufacturing consolidation is on track and our investment in operations should drive gross margin expansion as we exit 2013. Looking ahead, we intend to drive growth by exposing more consumers to our wealth of customizable on-demand products via search, social and mobile channels -- not only on the CafePress family of brands but by enabling customization wherever e-commerce occurs."

First Quarter 2013 Financial Highlights
  • Net revenues totaled $52.5 million, compared to $39.9 million in the first quarter of 2012.
  • Adjusted EBITDA was $0.1 million, compared to $2.8 million in the first quarter of 2012.
  • Gross profit margin was 37.4% of net revenues, compared to 42.5% in the first quarter of 2012.
  • GAAP net loss was $(4.0) million (including stock-based compensation, amortization of intangible assets, and acquisition costs), compared to a loss of $(0.5) million in the first quarter of 2012.
  • GAAP net loss per diluted share was $(0.23), compared to $(0.06) in the first quarter of 2012.
  • Non-GAAP net loss (excluding stock-based compensation, amortization of intangible assets and acquisition costs) was $(1.4) million, compared to non-GAAP net income of $0.9 million in the first quarter of 2012.
  • Non-GAAP net loss per diluted share was $(0.08), compared to non-GAAP net income per diluted share of $0.06 in the first quarter of 2012.
  • At March 31, 2013, cash, cash equivalents, and short-term investments totaled $26.1 million. The Company is comfortable with its cash position and expects to generate significant cash from operations in the fourth quarter, ending 2013 with a strong balance sheet. 

First Quarter 2013 Operating Metrics
  • Orders totaled 1,429,106, a 70% year-over-year increase, including the consolidation of EZ Prints, Inc. into CafePress' business.
  • Average Order Size (AOS) was $35 including the consolidation of EZ Prints, a 27% decrease year-over-year, reflecting the smaller order size of the EZ Prints B2B business. AOS excluding the impact of EZ Prints was $53, a 10% increase year-over-year.

Recent Operating Highlights
  • Announced CafePress Services to provide turnkey, unique e-commerce solutions for corporate partners.
  • Integrated CafePress products into the popular Facebook Gifts marketplace.
  • Signed agreement to develop corporate shop and custom online experiences for Marvel Entertainment, LLC, including the Iron Man 3 movie.
  • Launched new corporate shops for Paramount Pictures, including the upcoming movie World War Z, and for children's entertainment network Sprout®.
  • Enabled personalization and customization tools on consumer products company Jarden Corporation for Crock-Pot.com including designs showcasing all 32 NFL teams.
  • Expanded the relationship with long-time partner Iconix Brand Group, Inc. to create a state-of-the-art website and leverage the Peanuts® brand on CafePress.com and other channels.
  • Partnered with interactive ecommerce company Delivery Agent, Inc. to add customized products and technology tools to more than 40 entertainment sites including Discovery Channel, The History Channel and CBS.
  • Expanded relationship with Getty Images to include portfolio of work in the CafePress.com marketplace.
  • Added Fan Portals for fans to design and create user-generated merchandise, including both Elvis Presley and Army-inspired merchandise due to partnerships with Elvis Presley Enterprises and the US Army, respectively.
  • Increased the number of products and base goods on CafePress.com including categories such as home, apparel and automobile accessories.

Business Outlook

"Given the strong start to 2013, we are raising our full year revenue guidance," said Monica Johnson, Chief Financial Officer. "Our second quarter guidance reflects a shift in the historical weighting of our business due to the revenue and profit seasonality of newly acquired businesses, the expected timing of partner programs and the continued investment in the consolidation of our manufacturing operations. All of these factors point toward a higher percentage of revenue and profit in the fourth quarter for CafePress." 

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,550.69 -47.51 -0.27%
S&P 500 2,093.32 -4.72 -0.22%
NASDAQ 5,105.5460 -9.8360 -0.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs