During the first quarter, Shutterfly’s 2.6 million transacting customers (a 14% year-over-year increase) placed 3.9 million orders, 13% more than in the same period last year.
The average order value increased 5% to US$ 33.76. Adjusted EBITDA was US$ 0.2 million, compared to US$ 3.3 million in the first quarter of 2013, resulting in a net loss (GAAP) of US$ 34.2 million, compared to ($12.4) million in the first quarter of 2013. GAAP net loss per share was US$ 0.89, compared to US$ 0.33 in the fsme period last year.
"Q1 was a strong start to the fiscal year, with solid growth in our consumer business," said Jeffrey Housenbold, president and CEO. "Leveraging our integrated marketing approach and data driven pricing and promotional strategies, we were able to improve our brand awareness and customer engagement and drive healthy increases in customers, orders and average order value. I am pleased with our sustained high level of execution and remain confident in our strategy and ability to transform the multi-billion dollar memories, social expression and personalized products markets from offline to online."
For the full fiscal year 2014, Shutterfly expects to range from US$ 903.0 million to US$ 920.0 million, a year-over-year increase of 15.2% to 17.4%, with an adjusted EBITDA to range from US$ 160.6 million to US$ 174.8 million, or 17.8% to 19.0% of net revenues. Net loss per share is expected to range from US$0.38 to US$0.15.