Shutterfly announces first quarter 2013 results

GAAP net loss was US$ 12.4 million, compared to $ 10.0 million in the first quarter of 2012. Adjusted EBITDA was US$ 3.3 million, compared to US$ 0.6 million in the first quarter of 2012. During the first quarter, the number of transacting customers increased 20% year-over-year to 2.2 million; the number of orders totaled 3.4 million, a plus of 20%, while the average order value was US$32.13, an increase of 7% year-over-year.

"The first quarter was a solid start to the year, with strong execution across our businesses," said Jeffrey Housenbold, President and CEO of Shutterfly. "Capitalizing on our scale, scope and profitability, we continued to enhance our world-class platform across our four lifestyle brands and invest in early stage customer facing initiatives including Wedding, Enterprise, Treat, Mobile and our new Enhanced Cloud Service. Our acquisition of MyPublisher will enable Shutterfly to engage with new audiences, further extending our footprint in the multi-billion dollar social expression and personal publishing markets."

For the full fiscal year 2013, Shutterfly expects net revenues to range from US$118.0 million to 121.2 million, resulting in a year-over-year increase of 19.2% to 22.4%.