Shutterfly (SFLY) Tops Q3 EPS by 1c; Raises EPS Guidance

Shutterfly (NASDAQ: SFLY) reported Q3 EPS of ($0.78), $0.01 better than the analyst estimate of ($0.79). Revenue for the quarter came in at $195.4 million versus the consensus estimate of $191.64 million.

GUIDANCE:

Shutterfly sees FY2017 EPS of $0.60-$0.95, versus the consensus of $0.41. Shutterfly sees FY2017 revenue of $1.135-1.165 million, versus the consensus of $1.16 million.

Business Outlook

Full Year 2017:

For the full year we are maintaining our guidance for Net revenues and Adjusted EBITDA, raising our guidance for Operating Income and Earnings Per Share, and decreasing our guidance for capital expenditures.

• Net revenues to range from $1.135 billion to $1.165 billion[2]
• Gross profit margin to range from 48.0% to 49.0% of net revenues
• Operating income to range from $59.0 million to $79.0 million
• Effective tax rate of 37.5%
• Net income per share to range from $0.60 to $0.95
• Weighted average shares of approximately 34.2 million
• Adjusted EBITDA to range from $210.0 million to $230.0 million
• Capital expenditures to be approximately $70.0 million

Fourth Quarter 2017:

• Net revenues to range from $538.0 million to $568.0 million
• Gross profit margin to range from 58.0% to 60.0% of net revenues
• Operating income to range from $151.5 million to $171.5 million
• Effective tax rate of 39.0%
• Net income per share to range from $2.60 to $3.00
• Weighted average shares of approximately 33.4 million
• Adjusted EBITDA to range from $191.5 million to $211.5 million

For earnings history and earnings-related data on Shutterfly (SFLY) click here.

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