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CafePress is the world's best online gift shop that has the perfect item for every passion. Our catalog of more than 1 billion uniquely designed products - ranging from apparel to drinkware and home décor - allows our customers to express themselves and connect with others by bringing passions to life through unique items. In addition, our interactive design tools allow customers to personalize items or create their own unique items. CafePress was founded in 1999 and is headquartered in Louisville, Kentucky

http://www.cafepressinc.com
 

May 2, 2017
CafePress Reports Results for First Quarter 2017
8% Year-over-Year Increase in Total Order Volume
LOUISVILLE, Ky., May 02, 2017 (GLOBE NEWSWIRE) -- CafePress Inc. (NASDAQ:PRSS) today reported financial results for the three months ended March 31, 2017.

Management Commentary

"CafePress' first quarter was highlighted by an 8% year-over-year increase in total orders, which is our third consecutive quarter of year-over-year growth in volume.  Our total revenue for the quarter was down 1% year-over-year due to the combination of an increasingly competitive online retail environment and more challenging comparisons from the Presidential primary season a year ago," commented Fred Durham, Chief Executive Officer.

"CafePress is a leading destination for unique content and products that inspire meaningful connections.  We are continuing to optimize the business and our technology, and are acutely focused on re-energizing our brand, merchandising, and customer experience.  We recently began expanding our product line, adding even more high-quality, inspirational merchandise to our assortment.  Our goal is to inspire human connection, and as the year progresses, we plan to give our customers even more ways to connect with others and express themselves through engaging merchandise," concluded Durham.

First Quarter 2017 Financial Highlights

Net revenue totaled $18.3 million, down 1% compared to $18.5 million in the first quarter of 2016.
Gross profit margin was 38.1% of net revenue, compared to 42.5% in the first quarter of 2016.
GAAP net loss was $(3.4) million, or $(0.20) per diluted share, compared to a net loss of $(3.0) million, or $(0.18) per diluted share, in the first quarter of 2016.
Non-GAAP Adjusted EBITDA was $(1.9) million, compared to Adjusted EBITDA of $(1.6) million in the first quarter of 2016.  Prior year Non-GAAP Adjusted EBITDA benefited from a $0.3 million one-time reduction in commission expense.
Non-GAAP Cash Contribution margin was 23.5% of net revenue, compared to 28.3% in the first quarter of 2016.
At March 31, 2017, cash, cash equivalents, and short-term investments totaled $33.4 million, or approximately $2.01 per share.
First Quarter 2017 Operating Metrics

Orders totaled 0.6 million, an 8% year-over-year increase.
Average Order Value (AOV) was $31.59, an 8% year-over-year decline.
First Quarter 2017 Conference Call

Management will review the first quarter 2017 financial results on a conference call on Tuesday, May 2, 2017 at 5:00 p.m. Eastern Time. To participate on the live call, analysts and investors should dial 1-877-397-0272 or 719-325-4765 at least ten minutes prior to the call. CafePress will also offer a live and archived webcast of the conference call, accessible from the "Investors" section of the Company's Web site at http://investor.cafepress.com/.

Non-GAAP Financial Information

This press release contains certain non-GAAP financial measures. Tables are provided at the end of this press release that reconcile the non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP). These non-GAAP financial measures include Adjusted EBITDA and cash contribution margin. For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures, please see the information provided at the end of this press release.

To supplement the Company's consolidated financial statements presented on a GAAP basis, we believe that these non-GAAP measures provide useful information about the Company's core operating results and thus are appropriate to enhance the overall understanding of the Company's past financial performance and its prospects for the future. These adjustments to the Company's GAAP results are made with the intent of providing both management and investors a more complete understanding of the Company's underlying operational results and trends and performance. Management uses these non-GAAP measures to evaluate the Company's financial results, develop budgets, manage expenditures, and determine employee compensation. The presentation of additional information is not meant to be considered in isolation or as a substitute for or superior to net income (loss) or net income (loss) per share determined in accordance with GAAP.

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