Shutterfly announces 2012 financial results

According to a press release, the number of transacting customers increased 31% year-onyear to 7.1 million, while orders totaled 16.3 million, a plus of 29% year-over-year increase. The average order value was US-$ 37.58, a decrease of 2% compared with 2011. Shutterfly’s adjusted EBITDA soared 53% to US-$ 128.1 million, the company’s GAAP net income was up 64.3%, reaching US-$ 23.0 million, compared to US-$ 14.0 million in 2011.

“Our unwavering commitment to innovation, outstanding product quality, stylish designs, exceptional customer service and overall value, combined with our focus on strong execution led to another year of record revenues, adjusted EBITDA, and free cash flows,” said Jeffrey Housenbold, President and CEO of Shutterfly. “Our singular focus on addressing the ever increasing challenges that consumers face as they try to do more with their photos and memories, has enabled Shutterfly to emerge as the market leader. We remain confident in our strategy and in the early and large markets in which we operate.”

For 2013, Shutterfly expects net revenues to range from US-$ 739.7 million to US-$ 746.0 million, a year-over-year increase of 15.5% to 16.5%, with an adjusted EBITDA of US-$ 133.1 million to US-$ 141.7 million, representing 18% to 19% of net revenues.