Vistaprint fiscal 4th-quarter net income sinks 21 percent as costs climb; revenue disappoints

Vistaprint fiscal 4Q net income sinks 21 percent

SEATTLE — Vistaprint NV, which sells business cards, calendars, stickers and other items, said Wednesday its fiscal fourth-quarter net income sank 21 percent on higher costs.

The company also issued guidance below analyst estimates, and its shares plunged in aftermarket activity.

For the quarter ended June 30, Vistaprint’s net income declined to $11.7 million, or 26 cents per share, from $14.7 million, or 33 cents per share, in the same period last year.

Excluding stock options expenses, Vistaprint said it earned 38 cents per share in the latest quarter.

Analysts surveyed by Thomson Reuters had forecast earnings of 37 cents per share.

Revenue increased 22 percent to $164.3 million from $135.2 million, but missed analysts’ projection of $168.8 million.

The company’s costs and expenses rose 25 percent to $150.4 million in the quarter.

“Fourth-quarter revenue was below our expectations,” said CEO Robert Keane in a statement. “Since we established fourth-quarter guidance in April, unfavorable currency movements impacted our revenue by over $3 million. We are also disappointed in our own constant currency revenue execution for the quarter.”

For the full fiscal year, Vistaprint said net income rose 22 percent to $67.7 million, or $1.49 per share, from $55.7 million, or $1.25 per share. Revenue increased 30 percent to $670 million from $515.8 million.

Vistaprint also issued guidance for the current quarter and the fiscal year that were lower than analysts expected.

Shares of Vistaprint dropped $12.29, or 24.5 percent, to $37.97 in extended trading. The stock earlier dipped 33 cents to close at $50.26. Shares have ranged from $39.12 to $62.77 over the past year.