Cimpress (CMPR) Beats Q2 Earnings And Revenue Estimates
Zacks Investment Research | Jan 31, 2018 08:55PM ET
Cimpress N.V. (NASDAQ:CMPR) reported mixed second-quarter fiscal 2018 results with GAAP earnings of $29.9 million or 93 cents per share compared with $35 million or $1.07 per share in the year-ago quarter. Despite higher revenues, a significant rise in operating expenses primarily led to the decline in GAAP earnings. However, earnings comfortably beat the Zacks Consensus Estimate of 83 cents.
Quarter Details
Total revenues in the fiscal second quarter were $762.1 million compared with $576.9 million in the year-ago quarter. It comfortably surpassed the Zacks Consensus Estimate of $692 million.
The National Pen segment recorded revenues of $126.1 million, recording a double digit segmental profit margin of 14% for the first time since its acquisition. Furthermore, the Vistaprint segment — the largest revenue generating segment of the company — showed a healthy rise in revenues. Aggregate quarterly revenues from Vistaprint came in at $428.9 million, up from $380.8 million in the year-ago quarter. The restructuring initiatives at the segment have been beneficial, as evident from the profit margin of 23% and a year-over-year margin expansion of 5%. Also, Upload and Print segment’s revenues increased significantly to $192.5 million from $152.4 million in the year-earlier quarter, due to improved operating metrics led by decentralized operations. It reported segment profit margin of 12%.
However, revenues from All Other Businesses decreased 53% year over year to $21 million from $45 million in the prior-year quarter. The Albumprinter divestiture at the end of first-quarter fiscal 2018 led to this decline. It reported segmental loss of 41%.
Gross margin in the reported quarter expanded marginally to 52.7% from 52.1% in the year-ago period.
Cimpress N.V Price, Consensus and EPS Surprise
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